Manchester United to Partner with Tezos for $27 Million Per Year Sponsorship Deal

English Premier League football club Manchester United is expected to announce a promotions partnership with blockchain platform Tezos. According to sports news website theathletic.com, the deal is worth US$27 million annually and will place Tezos front and centre on United’s training kit.

Tezos Replaces Aon as Man United’s Training Sponsor

Tezos is said to have agreed to a multi-year contract with Manchester United. While an official announcement is pending, Man U has reportedly been filming promotional material at its training centre.

This comes as American insurance company Aon’s eight-year contract with the club concludes. United has been without a training kit sponsor for the current season, following the collapse of negotiations with The Hut Group. The Manchester-based company withdrew its interest over concerns regarding potential fan boycotts of United’s commercial partners as part of a protest against the club’s ownership by the Glazer family, who have placed it in considerable debt since taking over in 2005.

United has been in discussion with several other companies, including others in the blockchain field, for the sponsorship deal. However, it is expected the Tezos announcement will be finalised in coming weeks. Manchester United and Tezos have declined to comment on the deal.

Crypto Extends Its Reach in Sports Sponsorship

Tezos is not new to sports sponsorships. Notably, it became the first blockchain sponsor of the New York Mets baseball team in May 2021 and is in partnership with Red Bull Racing to develop an NFT experience for the team. The company has also joined the line-up of sponsors for McLaren Racing across IndyCar, Formula 1 and esports.

However, Tezos isn’t the only blockchain making sponsorship moves in the sporting world. In August 2021, meme cryptocurrency Dogecoin entered a partnership with Watford FC (another popular EPL club). This million-dollar agreement saw Watford players wear the Dogecoin logo for the remainder of the season.

Coinbase has also become an official sponsor of the NBA and is looking to break into other professional basketball leagues including the WNBA and the NBA 2K league.

Additionally, Dutch football club PSV Eindhoven entered a deal in August 2021 with Anycoin Direct to be paid entirely in bitcoin, helping to promote cryptocurrency adoption throughout Europe.

By Lauren Claxton, Crypto News Guest Author