CEBL Players May Now Partially Receive The Salary in Bitcoin
We are now seeing more and more use cases for Bitcoin in the sports industry, despite its current bearish narrative. The CEBL, the Canadian top basketball league, seems to be following in the footsteps of the NBA where crypto is already being widely applied.
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CEBL players can now get paid in BTC through Bitbuy.
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Pro athletes are jumping onboard.
CEBL players can now get paid in BTC through Bitbuy
A new season in the Canadian Elite Basketball League (CEBL) is about to commence; the first game is scheduled for June 24. But the most exciting thing about this league for us, crypto enthusiasts, is that its officials seem to be keeping up with the times. Prior to the start of the season, they have concluded a partnership deal with the local cryptocurrency exchange, Bitbuy. According to this deal, all CEBL players now have an option to receive a fraction of their wages in Bitcoin.
And although this league is still young and relatively uninhabited: it was founded in 2017 with only six teams on the roster (Ottawa Blackjacks became the 7th squad in 2019), its executives have already adopted a forward-thinking approach towards its business model, which now includes the largest cryptocurrency by market capitalization. Interesting fact, the league is actually owned and managed by a single business entity, the Canadian Basketball Ventures Group, which makes it easier to take innovative decisions like Bitcoin adoption.
The league’s commissioner, Mike Morreale, noted that CEBL has actually become the first league in North America to fully embrace BTC. He also praised Bitbuy for making an invaluable contribution to the development of professional basketball in the Great White North.
The partnership deal will see Bitbuy converting a part of players’ salaries - apparently, the players will choose for themselves what amount to be converted - to BTC and subsequently depositing the coin to the corresponding digital wallets. The agreement also provides that Bitbuy obtains the status of the league’s major sponsor for the upcoming season. The exchange platform currently offers services to over 300,000 users in Canada.
Pro athletes are jumping onboard
Charlie Aikenhead, the VP of Marketing at Bitbuy, said that the deal showcases a positive change in players’ perception of remuneration and the acceptance of the fact that Bitcoin is bound to protect and increase their net worth over time. In addition, it demonstrates how crypto can facilitate the development of professional sports in Canada.
It’s not the first case where professional athletes from the North American sports leagues are being paid in cryptocurrency. We all remember the case of Russell Okung, the NFL pro who plays defensive tackle. He became the first one to convert a part of his salary in BTC. His example was followed by Kimbal Mackenzie, a point guard who has recently signed the contract with Guelph Nighthawks, a basketball team from Ontario, Canada. He became the first CEBL player who agreed to be paid in Bitcoin.