Binance has decided to prematurely terminate its partnership with the Argentine Football Association (AFA) after just over a year. Initially scheduled to last 5 years, the contract was cancelled due to AFA’s failure to meet its contractual obligations, according to Binance.
Binance part ways with AFA
Binance has decided to prematurely terminate its contract with the Argentine Football Association (AFA) after just over a year. Initially, the deal was to run for 5 years in order to “raise awareness of Binance among football fans in Argentina and around the world”.
Binance ha decidido poner fin a su asociación con la AFA (Asociación del Fútbol Argentino). Regularmente, evaluamos los resultados de nuestras alianzas en todo el mundo y, lamentablemente, a pesar de que se han ofrecido tiempo y oportunidades, la AFA no ha cumplido plenamente con…
– Binance Argentina (@BinanceArg) July 17, 2023
Binance has decided to end its association with the AFA (Argentine Football Association). We regularly evaluate the results of our partnerships around the world and unfortunately, despite the time and opportunity offered to us, AFA has not fully met its contractual obligations, which goes against our business values and principles of association. “
Although it did not mention the precise reasons for the breach of contract, the cryptocurrency exchange platform says it wants to continue to expand in Argentina:
“Binance remains committed to expanding in Argentina and continues to engage with local partners, including prestigious universities, with the aim of further developing educational efforts and strategic business alliances. “
Binance was previously the main sponsor of the Argentine national team, the Argentine Professional Football League Cup, and was also responsible for managing the Argentine Football Association Fan Token (ARG), the AFA’s token. However, AFA had initially contracted with Socios to do this, and had to break its contract to contract with Binance, which led to legal action.
This is the first time that Binance has sponsored a national football team.
