Rangers director James Bisgrove opens up on Sportemon Go crypto marketing blunder
Rangers director James Bisgrove has admitted that Rangers were left in a difficult position after shirt sponsors Sportemon Go ceased trading.
Rangers agreed to a sponsorship deal with NFT company Sportemon Go who were set to feature on the back of the club’s kit, but the company ceased trading in May.
Bisgrove admitted that the deal initially was very beneficial, but that he’s now “cautious” over entering the NFT market after the Sportemon Go mishap.
Speaking to Rangers Review, Bisgrove said: “The NFT and crypto space was one we identified as an emerging sector like many other clubs have done and continue to do.
“We saw Inter Milan had announced one I’d never heard of this week and Liverpool last week so football clubs are very active in this space and within a period of 18 months we generated several millions of pounds of profit into our commercial business through partnerships in this space.
“However, our fingers are probably burned given the Sportemon Go situation.
“The fact that token got wound up and because of the lead times involved in kit production on the back of the home kit this season doesn’t mirror Socomec which is our back-of-shirt energy partner on the first team shirt.
“I think, absolutely, we would be cautious to step into this space again given that experience.”
Gamble
Bisgrove has an excellent record when it comes to sponsorship deals and marketing, but he clearly learned the hard way about the crypto market and the risks involved with a sponsorship deal.
As he pointed out, Rangers are by no means the only club to venture into the NFT and crypto field for sponsorship deals – and it’s because they can be very fruitful.
However, with the markets being so unpredictable, things can change in an instant, and the club’s affiliation with Sportemon Go has left them with a huge kit problem.
Bisgrove did announce that fans can request to have the sponsorship changed on any already-sold shirts by requesting it at the Rangers store.
But while there will probably be plenty more opportunities for Rangers to explore crypto sponsorships, Bisgrove has seemingly learned his lesson and will steer well clear of them in future negotiations.
Instead, the club should focus on sustainability and financial consistency.
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