Multiple factors can affect the sentiment of Fan Tokens, from on-field performance to boardroom activity. As such, SportFi traders must cultivate a thorough understanding of the landscape when going long or short on a token.

For club tokens, player signings and contract extensions are two obvious drivers of positive sentiment, so being aware of the windows when fresh blood can be brought in is vital. Contract extensions, of course, can happen at any time, so staying a step ahead is about keeping your ear to the ground and reacting quickly when news is confirmed.

The validity of contract extensions as a sentiment driver was confirmed in recent days when a Brazilian superstar decided to spend the rest of 2026 at Santos…

Santos FC Fan Token ($SANTOS) Pumps 6.8% in 2 Days as Neymar Confirms Extension

In recent days, it was confirmed that 33-year-old Brazil forward Neymar had extended his contract with boyhood club Santos until the end of 2026, having joined a year ago. It had been set to expire in July.

In the last 48 hours, the value of the Santos FC Fan Token ($SANTOS) has risen from $1.74 to $1.86, a jump of 6.8%, as the market reacts to the news. Trade volume has also been especially strong, rising from $4.3 million to $6.8 million at the time of writing. $SANTOS is the most valuable Fan Token by market cap, with a total market value of $29.9 million.

Neymar, who scored 12 goals and provided six assists in 2025 and helped Santos avoid relegation in the final league games, hopes to be part of Brazil’s World Cup squad. The hitman underwent surgery on his troublesome left knee last year, and has not appeared in a Brazil shirt since suffering an ACL tear in World Cup qualifying in October 2023. However, manager Carlo Ancelotti has stated he will consider Neymar for inclusion if he proves his fitness.

There are many other examples of the Fan Token market reacting to influential players extending their contracts. When Kylian Mbappé pledged his immediate future to Paris Saint-Germain on May 21, 2022, there was a clear response: as rumors circulated that Mbappé would remain in the French capital, the value of the Paris Saint-Germain Fan Token ($PSG) rose, from $4.89 on May 14 to $9.21 on May 22, a gain of 88.3%. Trade volume also hit $158 million on May 19, up from less than $2 million three days before.

Of course, Mbappé is one of the world’s finest players and generally speaking, the bigger and better the player, the greater the potential impact on Fan Token sentiment. Ironically, in their first year without Mbappé, PSG won the Champions League, a title that had been elusive during his record-breaking tenure. (Mbappé is the club’s all-time top goalscorer with 256 goals.)

When Player Signings Prime Fan Tokens

Naturally, the acquisition of players is also cause for optimism for Fan Token traders, with the same rule applying: the bigger the player, the greater the potential reaction. Of course, a gloomy macro outlook can still stifle any potential bounce from top talent coming in the door, so timing is also important.

The best case of this might be PSG’s signing of Lionel Messi in August 2021. The day after the deal was done, August 11, trade volume for the $PSG Fan Token hit $617 million, up from $9.6 million just five days earlier. Priced at $25 on August 1, it rose as high as $44 the day after Messi signed.

When Arsenal signed Swedish striker Viktor Gyökeres on a five-year contract last July, in a deal worth £64m, the effect on the Arsenal Fan Token ($AFC) was clear, its price rising from $0.35 on the day of the signing to $0.45 three days later (+28.5%). Trade volume also surged from $360k to $10.7 million.

At the time of writing, Ghana international Antoine Semenyo has just signed for Manchester City on a five-and-a-half year contract from Bournemouth, for the same fee Arsenal paid for Gyökeres. Several Premier League clubs had reportedly been interested in Semenyo, Chelsea, Liverpool and Manchester United among them.

It remains to be seen how the Semenyo signing will affect the value of the Manchester City Fan Token ($CITY), although timing could be a factor: positive sentiment has been blunted by three consecutive City draws, meaning Arsenal have been able to open up six-point gap at the top of the table. Might the Semenyo news restore confidence? Or do City need to start winning some games first?

Ultimately, news of player signings and contract extensions are just a few of the factors feeding into sentiment around a club and its Fan Token, making trading in this area an exciting pursuit, particularly for sports fanatics.

Ronnie McCluskey: Fan Tokens Market Reporter