Australian Baseball League club Perth Heat will pay its players in bitcoin, after partnering with a cryptocurrency payment company in a deal it claims to be a world first for professional sport.
The club is also expected to accept bitcoin payments for sponsorships, merchandise and ballpark concessions on game days.
A new position of chief bitcoin officer has been created to facilitate the new operation and the shift of “the corporate treasury” from dollars to cryptocurrency.
“This is not a one-off purchase to hedge against future uncertainties or inflationary pressures,” said Patrick O’Sullivan, the new chief bitcoin officer. “The Perth Heat are embracing the reality that the future of money and corporate treasuries will live on the bitcoin blockchain.”
In a team statement, the Heat claimed it was the first professional sports club in the world to “fully embrace bitcoin and the Lightning Network for payment acceptance and payroll for staff and players”.
The Heat are one of Australian baseball’s most successful clubs and have won four ABL championships since the formation of the league in 2010.
The club’s CEO, Steven Nelkovski, said he believed the sponsorship deal would enable the organisation to reach new levels of success both on and off the field.
“We firmly believe that the mindset that bitcoin imparts on network participants will be felt by our players, coaches, staff, and our loyal fanbase,” Nelkovski said.
“The players and organisational staff have fully embraced the opportunities that being paid in bitcoin can provide.”
Baseball Australia, the game’s national governing body, was contacted for comment.
The 2021-22 ABL season, which was initially scheduled to start on Thursday this week, was last month cancelled for the second straight year to due disruption caused by the Covid-19 pandemic.
