Future sponsorship?

[Twodogs]

Anyone seen the news with FTX? Massive crypto company with celebrities in their adds even buying the naming rights to the arena where the Miami Heat play. Gone out of business. Worth nothing. Any concerns with our own sponsor?

Sam Bankman-Fried , the leader of FTX has gone from having a 100 billion dollar + fortune earlier this year to being worth SFA now. You'll be stunned to hear he's been accused of moving large parts of his fortune into accounts where the authorities can't trace it.

[GVGjr]

Anyone seen the news with FTX? Massive crypto company with celebrities in their adds even buying the naming rights to the arena where the Miami Heat play. Gone out of business. Worth nothing. Any concerns with our own sponsor?

Probably zero chance that it's in anyway related to our sponsorship. I'm glad Coin Spot isn't a major sponsor for us though.

[hujsh]

Probably zero chance that it's in anyway related to our sponsorship. I'm glad Coin Spot isn't a major sponsor for us though.

Not directly. More in that these companies maybe aren't so reliable ever aside from whatever questions you might have around Crypto. This company looked about as 'legitimate' as a crypto site can.

[Stevo]

Not directly. More in that these companies maybe aren't so reliable ever aside from whatever questions you might have around Crypto. This company looked about as 'legitimate' as a crypto site can.

Im sure there are legit type Crypto companies but its a very risky investment option.

[bulldogtragic]

I’d prefer to look at bringing on the Hells Angels as the ‘dodgy sponsor’. They’ve got proven success at money laundering and avoiding paying tax and buying/selling drugs on the dark web (the only point of crypto). They’re not likely to fall quickly either.

We spruik about how we are the the ‘anti gambling’ club and promoted the biggest Ponzi scheme and legitimised it to which probably led to more gambling loses on crypto than all of our old pokies ever. Crypto is already down well over US$2 Trillion in 12 months and it’s going to be way, way more soon enough.

If we are going to be true ethical leaders, as we assert we are, irrespective of the legitimacy of our benefactor as an entity, surely we need to distance ourselves from pokie and crypto human tragedy.

More broadly with big sponsorships being shunned for many varied reasons, surely promoting the greatest ever ponzi (by extension on our jumper) is a reason to knock it back now. If not, I’d like to hear from the club why we are continuing with it. Surely Dan Andrews can just cover the shortfall in sponsorship anyway. He needs votes in the West, we want cash. Sorted.

[GVGjr]

Not directly. More in that these companies maybe aren't so reliable ever aside from whatever questions you might have around Crypto. This company looked about as 'legitimate' as a crypto site can.

I wonder how a company that has only been going for 3 years or so can sign a multi year long term naming rights sponsorship with a major sporting club? I'd say there was minimal due diligence applied and the money being bandied about talked louder than it should have.
The perception that FTX was a stable Crypto company is false.

I get why clubs are tempted but if we are to enter into these types of sponsorships it needs to be in a minor capacity to minimise the risks.

[Grantysghost]

I wonder how a company that has only been going for 3 years or so can sign a multi year long term naming rights sponsorship with a major sporting club? I'd say there was minimal due diligence applied and the money being bandied about talked louder than it should have.
The perception that FTX was a stable Crypto company is false.

I get why clubs are tempted but if we are to enter into these types of sponsorships it needs to be in a minor capacity to minimise the risks.

When we entered the deal Crypto was flying to be fair.

I agree that ironically we shouldn't be depending on this revenue. I get the feeling we were a little desperate at the time.

During Covid, Crypto exchanges were probably one of the few business models throwing cash around.

[GVGjr]

When we entered the deal Crypto was flying to be fair.

I agree that ironically we shouldn't be depending on this revenue. I get the feeling we were a little desperate at the time.

During Covid, Crypto exchanges were probably one of the few business models throwing cash around.

That's the issue, as quick as it flies it can crash.

With so many companies struggling it must be difficult to find sponsorship opportunities and on top of that players are now wanting to vet the ethical values of some companies clubs associate with.
It's difficult for clubs who rely so heavily on sponsorship to knock back opportunities.
Others may view this differently, as we all have risk tolerances, but I'd advocate that any crypto sponsorship needs to be less than 7.5% of the clubs sponsorship revenue if they feel they need to go down that road. There is money to be made but keep the overall risks low.

[GVGjr]

Sam Bankman-Fried , the leader of FTX has gone from having a 100 billion dollar + fortune earlier this year to being worth SFA now. You'll be stunned to hear he's been accused of moving large parts of his fortune into accounts where the authorities can't trace it.

I had a quick look at where the company is located and course it's in the Bahamas. Definite Ponzi type feel.

[bornadog]

Another two years with Airport Toyata

[azabob]

The most pumped to be in that photo is the guy at the desk…

[Grantysghost]

Pepperjack - the wine of the mighty west.

https://www.westernbulldogs.com.au/n...bulldog-family

[angelopetraglia]

Pepperjack - the wine of the mighty west.

https://www.westernbulldogs.com.au/n...bulldog-family

Now that is a sponsorship product that I can and will support.

[Axe Man]

Pepperjack - the wine of the mighty west.

https://www.westernbulldogs.com.au/n...bulldog-family

I thought a Coolabah goon bag would be more our demographic.

[comrade]

Their Grenache is a beauty.

Looking forward to see how we activate the partnership? maybe a weekly segment with Bont reviewing the game over a bottle of Pepperjack plonk.