City to conduct further inquiries into the validity of the company.
Just days after signing a new partnership with cryptocurrency start-up company 3Key, Manchester City have suspended their deal with the firm. 3Key was onboarded by City as their Official Regional Partner in Decentralised Finance Trading Analysis earlier this week.
When the partnership was announced, 3Key’s founder, Oliver Chen, had stated that the company was in a start-up phase with a product due to launch in the coming months, and that the partnership with City would be in regions outside the UK.
However, due to lack of online presence and given the individuals who were identified as 3Key executives do not have any digital footprint, along with the fact that the company’s website contained no contact details, registered office or company number and the two websites associated with 3Key were offline, City have decided to suspend their partnership with the firm.
A club spokesperson stated:
“Manchester City conducts due diligence in respect of all of its partnerships.
“Manchester City’s partnership with 3Key Technologies has been announced but has not been activated in respect of any specific products or services in any part of the world.
“Prompted by the club’s interactions with 3Key Technologies in recent days, Manchester City is now conducting further enquiries regarding 3Key Technologies and the partnership has been suspended pending satisfactory resolution to all of those inquiries.”
Investigative reporter Martin Calladine had previously verified a letter sent by Manchester City, which stated that Oliver Chen was the owner of 3Key and the firm was based out of The Seychelles. The letter, though, contained no information about the company’s contact or other details that could verify the company.