AZ Alkmaar will be the first professional football club in the Netherlands to pay players in Bitcoin (BTC).

In a statement released on the club’s website on Thursday, the Eredivisie team, which finished third in the Dutch football season 2020/2021, announced that cryptocurrency broker Bitcoin Meester is the exclusive and official cryptocurrency partner until mid-2024.

According to the announcement, the entire bitcoin sponsorship agreement was completed when the Dutch club announced its intention to keep the amount of bitcoins on the balance sheet.

AZ Alkmaar is reported to start paying players in Bitcoin and joining a growing list of sports franchises that accept BTC to pay professional athletes.

For AZ Commercial Director Michael Coster, the appeal of bitcoin and cryptocurrencies is undeniable, hence the club’s decision to accept BTC. “The cryptocurrency market is booming, with large growth in the number of users in recent years,” Koster added.

Koster added that non-crypto organizations such as football teams require guidance from market participants such as Bitcoin Meester. In fact, the cryptocurrency broker is one of the few cryptocurrency companies licensed by the central bank of the Netherlands.

Regulation of cryptocurrency seems to be the main topic for the authorities in the Netherlands, with a government official recently calling for a complete ban on bitcoin.

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Cryptocompanies are increasingly sponsoring sports teams to build brand awareness and expand their business. As Cointelegraph previously reported, recently announced a global partnership with Formula One.

From Major League Baseball to the National Basketball Association, many American sports companies and star athletes also use bitcoin and cryptocurrency. Back in June, seven-time Super Bowl champion Tom Brady signed a popular cryptocurrency approval deal with cryptocurrency exchange giant FTX.

Source: CoinTelegraph