Coindesk Logo

Sacramento Kings to Offer Bitcoin Salary Option to All Players

Sacramento Kings to Offer Bitcoin Salary Option to All Players

Sacramento Kings to Offer Bitcoin Salary Option to All Players

he NBA franchise has long been one of the most crypto-forward teams in professional sports.

he NBA franchise has long been one of the most crypto-forward teams in professional sports.

he NBA franchise has long been one of the most crypto-forward teams in professional sports.

AccessTimeIconApr 6, 2021, 1:25 AM
Updated May 15, 2023, 1:40 PM

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

The Sacramento Kings are set to become the first major sports franchise to offer a bitcoin payment option to all players and staff, team owner Vivek Ranadivé said on Clubhouse on Monday.

CoinDesk confirmed with a fellow speaker on the Clubhouse program, which was hosted by Tim Draper, that Ranadivé had previewed his announcement scheduled for later this week. News of the announcement first circulated on Twitter.

The move would strengthen the Kings' longstanding claim to being one of the most crypto-forward teams in professional sports. The California National Basketball Association team began selling everything from tickets to hot dogs for bitcoin in 2014, and in 2019 launched rewards token for fans.

It was unclear at press time how the Kings will facilitate bitcoin payments to players and staff. It partnered with BitPay for the 2014 offering. BitPay did not immediately respond to CoinDesk.

National Football League player Russell Okung made headlines late last year for becoming the first NFL player to convert some of his $13 million salary into bitcoin. Okung used Zap's Strike product to convert dollars to BTC.

A representative for the Kings did not pick up the phone.

When reached by email Tuesday night, fellow NBA team owner Mark Cuban scoffed at the Kings' plan.

"Any player can convert their income to any crypto they choose," Cuban told CoinDesk. "Paying in BTC or any crypto doesn’t really do anything. I would rather keep my BTC."

Update (April 6, 5:59UTC): Adds comment from Dallas Mavericks team owner Mark Cuban.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.