The Canadian Elite Basketball League (CEBL) has approved the system of paying a portion of salaries in bitcoin (BTC) for its players.
The @CEBLeague will become the first North American pro sports league to offer portions of player salaries in #Bitcoin. CEBL players voiced interest in being paid in crypto to the league after @RussellOkung converted 1/2 of his salary to Bitcoin last year. https://t.co/Mz7xNdQQZh
— SportTechie (@SportTechie) June 26, 2021
“The CEBLeague will become the first North American pro sports league to offer portions of player salaries in #Bitcoin. CEBL players voiced interest in being paid in crypto to the league after Russell Okung converted 1/2 of his salary to Bitcoin last year”.
The announcement of this revolutionary move, which was approved and shared by all players, came after the CEBL entered into a partnership with Bitbuy, a leading Canadian crypto platform.
The partnership is the first of its kind for any professional sports league in North America and, coincidentally, comes to kick off the league’s third season on 24 June. Not only that, the CEBL will broadcast games internationally on its new streaming service CEBL+.
Commenting on this, Mike Morreale, Commissioner and CEO of the CEBL said:
“Innovation and delivering a new basketball experience have been a driving force behind our creation of one of the world’s most widely recognized pro basketball leagues. Some of the best players outside the NBA, and some with NBA experience, have joined our league because we make player-first decisions. Our partnership with Bitbuy speaks to our commitment to players, and also to our forward-thinking approach to how we go about our business. We appreciate Bitbuy’s investment in helping us further grow Canada’s official national pro basketball league.”
The CEBL also chooses bitcoin
Apparently, it was the CEBL players themselves who expressed their interest in receiving part of their salary in crypto. Thanks to BitBuy’s intervention, players will be assisted in the delivery of BTC to their personal crypto wallets.
And indeed, the partnership between CEBL and BitBuy, came about after interest was expressed by players in the league’s management, following Russell Okung of the NFL becoming the first North American professional player to be paid in bitcoin, last year.
Kimbal Mackenzie, a guard for the Guelph Nighthawks, will be one of the first players to join the programme and commented as follows:
“The opportunity to be paid in Bitcoin is something I’m incredibly excited about. I believe cryptocurrency is the future,” Mackenzie said. “The ability to have part of my salary go directly into an investment that I believe will appreciate greatly over the next 10-30 years is a no-brainer. The CEBL continues to provide us as players with forward-thinking opportunities, and the option to be paid in Bitcoin further highlights that they are one of the top leagues in the world”.
CEBL players aren’t the only ones who want to stay in the BTC world. Just this week, financial giants such as Cathy Wood acquired through her Ark Invest as much as 1 million shares of the Grayscale Bitcoin Trust.
Meanwhile, the CEO of Twitter Jack Dorsey launched “The B World”, a series of recordings to illustrate the potential of Bitcoin, piquing the curiosity of even the infamous Elon Musk. All the while, the price of BTC is back above $34,000 today.