Spanish football (soccer) is suffering a “crypto hangover,” a new report has claimed – with many La Liga clubs left with “defaults, complaints, and an experience to forget” after partnerships with crypto sponsors soured.

The latest club to suffer problems with a sponsor from the crypto sector is Celta Vigo. The club partnered with the Turkish crypto exchange Bitci in 2021. But in a press release published on Twitter earlier this week, Celta claimed that the exchange has “not made any payments” since the deal was struck.

The club stated that it had “decided to initiate legal action” to “request the full compliance of what the parties agreed.”

But Celta’s case is not an isolated incident. Bitci had requested payment delays to a number of its other Spanish partners – including Celta rivals Valencia, as well as the Barcelona-based La Liga side Espanyol.

(By Tim Alper)