Vivek Ranadivé, president and CEO of Sacramento Kings, announced Monday that all of their players and staff now have the option of choosing to receive their salaries in bitcoin rather than USD. The move will make the NBA franchise the first professional sports team to offer bitcoin salaries.
Bitcoin Making Its Way To Sacramento Kings Wages
Speaking on Clubhouse on Monday, Ranadivé revealed that all of their players and staff may soon start receiving a portion of their salary in bitcoin. The official announcement should be expected in the coming days, according to the president.
The Sacramento Kings have shown the most crypto-forward approach among any other professional sports team. In 2014, the NBA team partnered with payment processor BitPay to introduce BTC as a payment solution for tickets and merchandise.
Athletes receiving their salary in crypto become a hot trend in 2021
Besides the NBA, Bitcoin has also made its way into the National Football League (NFL). Russell Okung of the Carolina Panthers announced last December that he would receive half of his $ 13 million salary in bitcoin through a partnership with Zap.
Additionally, the US Dallas Mavericks basketball team – owned by billionaire entrepreneur and Shark Tank’s Mark Cuban – also displayed a pro-crypto stance. The Mavericks first introduced bitcoin payments in 2019.
After a bumpy relationship and Cuban skepticism, the Mavericks are doubling down on their crypto support this year. This time, however, the team is opting for dog-themed Dogecoin.
The meme has received public approval from bigwigs like Tesla and SpaceX’s Elon Musk, rapper Snoop Dogg, and others. And now Mavericks fans can purchase Team Tickets and Merchandise using dogecoin. Cuban explained that the team specifically chose dogecoin and no other cryptocurrency for its novelty: “Sometimes in business you have to do things that are fun, engaging, and hopefully generate a lot of public relations.”