Manchester City, the powerful representative of the English Premier League, has officially announced that the cryptocurrency deal has not been activated yet. The Manchester team is doing more research on 3KEY Technologies.

Manchester City reached a sponsorship deal with 3Key last week. 3Key Corporation introduced itself as a Decentralized Finance (DeFi) trade analysis and advisory technology company.

Stephan Cieplik (Manchester City Football Group Senior Vice President, Global Partnerships Sales) had this to say about the deal:

“We are delighted to launch this partnership with 3KEY. Manchester City is constantly looking for ways to further expand its presence in international markets. At City, we are excited to partner with 3KEY in their journey to simplify the decentralized finance (DeFi) business analytics user experience through the power of football.”

Allegedly, there is no company called 3Key. According to Jack Gaughan's report, Manchester City executives did not find any tangible information about a new cryptocurrency company, 3Key, in their internet searches. After the research, certain results were revealed. The company is not registered anywhere and does not have any address. Only the names of some officials are known. Since there were no face-to-face interviews with those officials, it is unclear who they are. City reported that the deal has not yet materialized. The club has suspended its partnership with fantom crypto partner 3Key.

The only website associated with 3KEY is a crypto project “centralized decentralized finance” (CDF). There is no information about who is behind this project. The project promises an average annual return of 150% and 100% customer satisfaction.