Manchester City have suspended their partnership with the mysterious cryptocurrency start-up company, 3Key.
The company was named by City as an “official regional partner in decentralized financial trading analysis” last week as part of a commercial expansion of the Premier League champions. However, that process has now been stopped and the decision is believed to be based on 3Key’s lack of online presence.
As the Guardian reported on Wednesday, individuals named as 3Key executives in a recent press release do not have a digital footprint, while two sites linked to 3Key went offline on Tuesday.
“Manchester City are performing due diligence on all of its partnerships,” a club spokesman said. “Manchester City’s partnership with 3Key Technologies has been announced but has not been activated with respect to specific products or services in any part of the world.
“As a result of the club’s interactions with 3Key Technologies in recent days, Manchester City are now making further inquiries regarding 3Key Technologies and the partnership has been suspended pending a satisfactory solution to all these inquiries.”
When City announced the deal last week, City paid tribute. Stephen Cieplik, Senior Vice President of Global Partnership Sales for City Football Group, said: “We are pleased to partner with 3Key in their journey to simplify the user experience with decentralized finance (DeFi) through the power of football to engage with our fans with a range of content and activations. ” 3Key has not commented yet.