The Giants brought the NFL into a new wave of deal-making Wednesday by partnering with Park Avenue-based Grayscale Investments on the league’s first cryptocurrency sponsorship.
Financial terms of the deal were not disclosed, but Grayscale, which manages more than $46 billion in assets, will be the presenting sponsor of The Giants Foundation Golf Outing. Founded in 1993, The Giants Foundation provides financial assistance to tri-state area community-, health- and youth-focused organizations.
Grayscale sells securities that include Bitcoin and other digital currencies. Giants star Saquon Barkley is part of the movement of athletes investing in Bitcoin. Russell Okung made NFL history as the first player to receive half of his $13 million salary in Bitcoin from the Panthers (through a third party) in 2020.
“During our extensive evaluation of the space, we determined that we not only wanted a partner that understood the value of aligning with the Giants brand, but also could guide us in navigating the cryptocurrency ecosystem,” Giants chief commercial officer Pete Guelli said in a statement. “Grayscale quickly emerged as a company that shares our passion for the New York market but also has the institutional knowledge and network of partners that we can access as crypto continues to evolve.”
Grayscale also will be a presenting sponsor of home games and a supporting sponsor of training camp. This mark’s the company’s first partnership with a sports team, according to Sports Business Journal.
“Our partnership with the Giants is incredibly meaningful because our roots are in New York,” Grayscale CEO Michael Sonnenshein said. “We’re excited to partner with such a forward-thinking franchise, to work together on philanthropic initiatives, and to continue to support the New York metropolitan community.”