Renowned American professional basketball team Sacramento Kings is ready to start offering its staff and players a Bitcoin (BTC) payment option. A report broke this news on April 6, noting that team president Vivek Ranadivé anticipated this information about the Clubhouse session with Tim Draper. It appears that Ranadivé will give an official announcement later this week.
According to the report, this move will see the Sacramento Kings become the first major sports team to allow their staff and players to choose whether they would like to receive all or part of their salaries in BTC. Aside from this, the team will also cement the Sacramento Kings’ claims of being the most pro-crypto team in the professional sports sector.
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While the team’s interaction with cryptocurrencies in the past ranged from accepting BTC for tickets and t-shirts to implementing reward tokens for its fans, it is unclear how it will enable BTC payments.
Increased adoption of cryptocurrencies in the professional sports industry
This news comes after the Dallas Mavericks announced plans to begin accepting Dogecoin (DOGE) as payment for tickets and merchandise last month. The team reportedly teamed up with BitPay to enable this feature. At the time, Mark Cuban, the owner of the team, said that the team chose to embrace cryptocurrencies because it has the ability to do so.
While Cuban was optimistic about the news that his team adopted DOGE, he ridiculed the Sacramento Kings plan to pay players and staff in BTC saying that any player has the option to convert their payment into any cryptocurrency. He added that paying players in BTC doesn’t change anything and that he would rather keep his BTC in place.
In addition to professional sports teams embracing cryptocurrencies, individual players are also getting into the fledgling asset class. One example is National Football League player Russell Okung, who converted half of his £ 9.39 million income to BTC late last year. Okung managed to do this through Zap’s Strike, a solution that enables the conversion of traditional paychecks into BTC.
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