Sponsorship deals between sports teams or events and crypto companies have become more common in recent months. Crypto exchange FTX and Crypto.com have both been active over the past year, including the Binance exchange that sponsored the just concluded 2021 African Cup of Nation (AFCON).
Manchester United Confirms a Multi-year Deal With Tezos
According to a press release on February 10, Manchester United, one of the best, richest and most successful clubs globally, has confirmed a multi-year deal with Tezos, a blockchain platform that will sponsor the team’s training kit.
The club stated that Tezos branding would appear on the uniforms worn by soccer players during warm-ups before games, starting with Saturday’s home game against Southampton.
The terms of the partnership were not disclosed, but preliminary reports last week suggested Tezos would pay more than £20 million ($27 million) a year.
Most global sports brands are experimenting with blockchain and Web3 technologies and new ways to connect sports clubs with fans. Manchester United aims to build a fan ecosystem that aims to provide fans with a personalized experience based on the Metaverse concept on the Tezos blockchain, which will use Tezos’ native token.
The Club’s Executive Comments on The Partnership
Victoria Tipson, Manchester United chief executive of leagues and partnerships stated that this is a very exciting partnership for Manchester United as it brings them together with one of the most advanced, reliable and sustainable blockchains in technology that promises to truly revolutionize how we interact with everyone, including the club and their fans.
Tezos is a Proof-of-Stake (PoS) blockchain that has joined a growing number of blockchain companies entering into mainstream sponsorship deals. Previously, Tezos had signed sponsorship deals with Formula 1’s McLaren Racing and Major League Baseball’s New York Mets.
In October, the largest cryptocurrency exchange Binance signed a $30 million sponsorship deal with Italian football club Lazio, and in the English top-flight, Watford struck a deal with Stake.com to add the Dogecoin token to players’ sleeves.