BitPay paying ESPN in bitcoin for upcoming football game sponsorship

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BitPay is paying ESPN for its upcoming football game sponsorship in bitcoin, announced the company’s executive chairman Tony Gallippi on Friday.

The news came out of a press conference held by BitPay and the St. Petersburg Chamber of Commerce to promote the upcoming Bitcoin St. Petersburg Bowl being held on December 26.

Gallippi revealed at the press conference that BitPay paid ESPN Events, a subsidiary of ESPN sports network, in bitcoin for the event title sponsorship, which BitPay will hold for the next three years. CoinDesk estimated BitPay paid ESPN around $1.5 million for the three year sponsorship.

BitPay also said Friday that it hopes to have 100 local businesses accepting bitcoin in time for the December 26 Bitcoin Bowl, which is an NCAA-sanctioned post-season college football game.

The company hopes to install 30 bitcoin ATMs across the area so that customers can have easier access to bitcoins.

BitPay co-founder and CEO Stephen Pair said during the press conference, “Our goal is to create a permanent bitcoin hub in St. Petersburg.”

BitPay has already turned on a few businesses to Bitcoin, including The St. Petersburg Museum of History, Ferg’s Sports Bar and Grill, Green Bench Brewery Co. and Hotel Zamora in St. Pete Beach. Centerplate concessions at Tropicana Field, the site of the college football bowl game itself, will also accept bitcoin.

Coinbuzz

CoinBuzz provides news and analysis on Bitcoin and other digital currencies. Founded in 2014, the site has quickly become a leading source of information on digital currency technologies, businesses, markets, and regulation.

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