The Football Association wanted Pep Guardiola. They nearly got him, too. But the most decorated active manager in football chose to stay at Manchester City, and England pivoted to Thomas Tuchel, who was officially appointed on October 16, 2024.

How England landed on Tuchel

After Gareth Southgate stepped down following Euro 2024, the FA went straight to the top of its wish list. Guardiola was the first choice, and negotiations reportedly progressed through much of 2024. He didn’t bite. Guardiola opted to remain with Manchester City, and even publicly supported Tuchel’s appointment when it was announced in October 2024.

Tuchel’s contract was structured as an 18-month deal, with his official start date set for January 1, 2025. The German manager, who previously won the Champions League with Chelsea, inherited an England squad widely considered among the most talented in the tournament’s modern era.

Guardiola eventually left Manchester City after the 2025-26 season, departing on a high note after winning the 2026 FA Cup. His confirmed exit in May 2026 immediately reignited speculation that he could finally take the England job, with betting odds linking him to the role almost overnight.

The World Cup run and its crypto aftershock

Tuchel led England to the semi-finals of the 2026 World Cup. England’s tournament ended with a loss to Argentina, a result that carried consequences well beyond the pitch.

The $ARG fan token, tied to Argentina’s national team, surged following Argentina’s semi-final victory over England. Fan tokens are essentially digital assets that give holders access to team-related perks, voting rights on minor decisions, and bragging rights.

Argentina’s World Cup success became a live case study in how on-pitch results translate to on-chain speculation. The $ARG token’s price movement mirrored the emotional arc of the tournament: steady interest during group stages, then a sharp spike when Argentina knocked out one of the tournament favorites.

What this means for sports token investors

Platforms like Socios.com have built an entire ecosystem around fan tokens, and major football federations have embraced the model. But their price movements are driven almost entirely by sentiment, not fundamentals.

No major crypto token is directly tied to the managerial appointment of Tuchel or the potential hiring of Guardiola. What the market does price in is results. Fan tokens remain one of the few crypto asset classes where real-world events create predictable volatility windows. World Cup matches, managerial announcements, and tournament draws all generate the kind of concentrated attention that moves thin order books.

Whether Guardiola eventually takes the England job remains an open question as of mid-2026. But the market has already shown it will react to the possibility.