NWSL Faces Financial Crisis After Crypto Sponsor’s Bankruptcy, per Report

Cryptocurrency platform Voyager Digital, one of the league’s biggest sponsors, filed for bankruptcy over the weekend.

The NWSL is reportedly facing financial difficulties as one of its biggest sponsors, cryptocurrency platform Voyager Digital, has filed for bankruptcy, according to Eben Novy-Williams and Emily Caron of Sportico.

Voyager’s deal with the league was announced in December, with half the value of the agreement set to be paid in cash and the other half designated for individual players to invest in cryptocurrencies via the Voyager platform, per Sportico. With the company now entering Chapter 11, the status of the funds designated for the players is unclear, as their accounts were never funded.

Following news of Voyager’s financial straits, NWSLPA executive director Meghann Burke offered reassurances that no players would be missing paychecks.

From #NWSLPA executive director Meghann Burke: "No player is missing a paycheck. Nothing in the CBA is in crypto." #NWSL https://t.co/xIMqUIvN3u

— Jeff Carlisle (@JeffreyCarlisle) August 1, 2022

Voyager’s bankruptcy comes as crypto companies have flooded the sports world with broadcast advertisements, stadium naming rights and team/league sponsorships.

The NWSL did receive the cash payment that it was due as part of the agreement, Sportico reported, and Voyager signage remains present at venues around the league. As Voyager works through the bankruptcy process, a resolution from the NWSL’s perspective could be months away.

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