• Kraken did not disclose financial terms of the deal.
• Kraken is said to be in talks to raise $100 million in funding by the end of the year ahead of a potential IPO.

When Premier League champions Manchester City take to the field against rivals Tottenham Hotspur in late November, both teams will have crypto companies displayed on the sleeves of their players' shirts.

Crypto exchange Kraken has become the sleeve sponsor of Tottenham, commonly known as "Spurs," in a multiseason agreement. Manchester City has an equivalent deal with OKX, which commenced at the start of last season.

Kraken did not disclose the length of the deal nor the price paid. OKX's three-year partnership with Man City cost the exchange $70 million.

Last week, Kraken announced a similar deal with Spanish team Atlético Madrid, meaning the company now has a presence in both England's Premier League and Spain's La Liga.

Kraken is said to be in talks to raise $100 million in funding by the end of the year ahead of a potential initial public offering (IPO). Sponsoring Spurs and Atlético may boost its plans given the visibility it will now enjoy in two of the most popular soccer leagues in the world.

Read More: A Crypto Trading Clampdown Expands Beyond Binance to Another Large Exchange