Sacramento Kings Offers Bitcoin As Salary Option For Players

Basketball giants Sacramento Kings are set to become the first major sports franchise to offer a bitcoin payment option to all players and staff.

Vivek Ranadivé, president and CEO of the Sacramento Kings, announced on Clubhouse that all members of his organization can earn their salaries in as much Bitcoin as they want.

The Clubhouse program, which was hosted by bitcoin-famous venture capitalist Tim Draper, had Ranadivé preview his announcement scheduled for later this week. News of the announcement first circulated on Twitter.

READ ALSO: Manchester City Joins The Crypto Train, Launches Fan Token

BREAKING: Chairman of the Sacramento Kings:

"I'm going to announce in the next few days that I'm going to offer everyone in the Kings organization, they can get paid as much of their salary in #bitcoin as they want, including the players." - @vivek@SacramentoKings
@NBA

— Neil Jacobs (@NeilJacobs) April 5, 2021

This move further pushes the envelope for the Kings, who have been one of the first franchises in the NBA to diversify revenue streams to accept cryptocurrency. As early as 2014, Ranadivé had already set out plans to accept BTC for different arena purchases like tickets, merchandise, and food. In 2019, the Kings also developed a rewards program for their loyal fans using crypto-tokens.