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Watford FC: New shirt sponsor deal paid in cryptocurrency

Premier League football club Watford said their new shirt sponsor has paid in cryptocurrency.

The Hertfordshire club, promoted from the Championship last season, announced online betting company Stake had signed a "club-record" deal.

Cryptocurrency is a type of digital money that does not have a physical form and is traded on the internet.

Watford chairman, Scott Duxbury, said the club and sponsor have an "ambitious outlook and commitment to innovation".

He added it was "an extremely exciting campaign for the club as we return to the Premier League and we couldn't be happier" with the sponsor.