"In talks": Liverpool hopeful of finalising groundbreaking £70m Cryptocurrency deal to replace Standard Chartered

According to the Athletic's David Ornstein, Liverpool could become the first club in the Premier League to have a cryptocurrency sponsor on the front of their kits.

As the journalist revealed last week, the Reds are in talks with Standard Chartered as well as other interested partners to name a kit sponsor in 2023.

The Athletic reported last week that FSG are working to find a replacement deal with a new company to come on board to replace Standard Chartered, who have been on the front of Liverpool kits since 2010.

Apparently, both Liverpool and Standard Chartered “insist” that talks are ongoing and that a final decision has not yet been reached but the Reds have reportedly “already held preliminary talks with other companies about potentially coming on board.”

Liverpool could break ground with Cryptocurrency kit sponsor

Cryptocurrency has taken the world by storm and while there are many who view it as untrustworthy and unreliable, there is no hiding that crypto has a major role to play in the present and future.

Liverpool, according to Ornstein, "are also talking to firms from sectors including electronics, media and tourism.

"Among those parties, are companies from the cryptocurrency sector. They include a crypto exchange firm — a platform to buy and sell digital currency — and a blockchain platform (a decentralised computer network that underpins cryptocurrencies)."

The report states that having "talks are continuing with all parties, with Liverpool hopeful of finalising a deal, which is expected to bring in more than £70 million over two seasons, in the next eight weeks."

Liverpool should expect backlash from any cryptocurrency dealings

While there is a lot of good that comes from having decentralised currencies, there is still a lot of confusion and misinformation in the general public concerning Cryptocurrencies.

The NFT (non-fungible token) that Liverpool launched received widespread criticism from fans as it appeared to be a cash grab from the Reds.

A shirt sponsorship deal is much different as it does not impact fans' own bank balances or finances but Liverpool will undoubtedly be apprehensive as to what kind of reaction they can expect.

£70 million over two seasons would not outstrip the £40million per season that the Reds earn with Standard Chartered.