Australia baseball team the Perth Heat on Tuesday (Nov. 16) partnered with Bitcoin payments company OpenNode in a move to allow the club to accept Bitcoin payments and send Bitcoin payouts to players and staff through the Lightning Network.
In addition to paying players and staff with Bitcoin, the Perth Heat will also accept Bitcoin payments for sponsorships, merchandise and ballpark concessions and hold Bitcoin on its balance sheet.
“The Perth Heat are committed to operating according to a Bitcoin Standard, and in doing so are shifting the corporate treasury from dollars to Bitcoin,” said Perth Heat Chief Bitcoin Officer Patrick O’Sullivan in the team announcement.
“The club has already established an initial position in BTC to help secure its digital property rights on the world’s most secure monetary network and will continue to reinvest available capital into Bitcoin,” he said. “We believe the world has begun to recognize the power of sound money principles and are determined to lead from the front.”
O’Sullivan expects the Heat to remain heavily involved in cryptocurrency.
“This is not a one-off purchase to hedge against future uncertainties or inflationary pressures,” he said. “The Perth Heat are embracing the reality that the future of money and corporate treasuries will live on the Bitcoin blockchain.”
Perth Heat CEO Steven Nelkovski is excited about the club’s role in breaking new ground.
“We firmly believe that the mindset that Bitcoin imparts on network participants will be felt by our players, coaches, staff and our loyal fan base, and we look forward to setting the bar for how much value a sports organization can bring to a community in the Bitcoin age,” he said.
Meanwhile, Crypto.com has finalized a $700 million deal with the AEG-owned Staples Center in Los Angeles for 20-year naming rights, scheduled to begin Christmas Day. The arena is the official home of the NBA’s Los Angeles Lakers and LA Clippers, the NHL’s LA Kings and the WNBA’s Los Angeles Sparks.
The agreement also makes Crypto.com an official cryptocurrency platform partner of the Los Angeles Lakers and the LA Kings.