Tezos has reportedly signed a multi-million dollar deal with Manchester United
Tezos, a leading proof-of-stake blockchain platform, has inked a training kit deal with professional English football club Manchester United, reports The Athletic.
The XTZ cryptocurrency is priced around 5%, outperforming the broader cryptocurrency market.
The deal, which has yet to be officially announced by the parties, is set to be worth more than £20 million ($27 million) a year.
Tezos will have the right to display its logo on the club’s training kit. Reportedly, one of Europe’s most prestigious football clubs has already filmed promotional material for the partnership.
United may also explore Web 3.0 as part of its collaboration with Tezos.
The club’s eight-year sponsorship contract with American insurance company Aon expired at the end of last season.
Unlike Aon, Tezos will not tie its name to the Carrington training ground.Prior to Tezos, several other cryptocurrency projects were reportedly considered.
Hut Group, a British e-commerce company, was in talks last year to strike a deal with the legendary soccer club, but the partnership fell through due to fans protesting the club’s owners.
United is currently controlled by the children of the late American entrepreneur Malcolm Glazer. Chairman Joel Glazer Europeans faced severe backlash from fans over their highly controversial Super League plans last year.
As U.Today reports, the English Premier League has opened an investigation into cryptocurrency deals signed by Manchester City and suspended a partnership with a suspected crypto startup that had no online presence.