NFLPA reportedly unable to collect $41.8 million in licensing and sponsorship revenue stemming from crypto connections

📆 6/4/2023 11:47 AM
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Another major sports entity seemingly lost money in the cryptocurrency collapse.

The NFL Players Association reportedly has been unable to collect $41.8 million in revenue from OneTeam Partners, LLC, which the NFLPA disclosed in its annual report to the U.S. Department of Labor, according to"As of Feb. 28, 2023, there is uncertainty surrounding collection of certain accounts receivable from OneTeam Partners, LLC," the union wrote in annual report, per the Athletic."Therefore, an allowance has been recorded as of that date for those amounts.

Though not explicitly stated in the filing, a source told The Athletic that the revenue is likely tied to the organization's endeavors with NFTs, which are basically digital versions of highlights or trading cards which can be bought and sold online.

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