Manchester United ‘are set to unveil a new training kit sponsorship with blockchain platform Tezos in a deal worth £20MILLION per year’… with the club looking to replace their lucrative contract with AON
- Manchester United are reportedly set to announce a new training kit sponsor
- The club are said to be teaming up with blockchain platform Tezos
- The lucrative deal is worth around £20m per year after contract with AON ended
Manchester United are set to announce a new training kit sponsorship with blockchain platform Tezos in a deal worth £20million per season, reports claim.
United have been looking to replace their previous Carrington sponsors AON after their contract with the insurance firm ended at the end of last season. They had raked in £120m across the eight-year deal.
And officials have now wrapped up a multi-year deal with Tezos, according to The Athletic, with the club already completing a handful of promotional shoots at the training ground ahead of the official announcement.
Manchester United are set to announce a new training kit sponsorship deal with blockchain platform Tezos, according to reports
Tezos is a decentralised network known for its role in cryptocurrency systems and has its own digital token that can be bought and sold by traders
Cristiano Ronaldo and Co have been training without a kit sponsor so far this season
United players have been training without a sponsor so far this season after the club’s deal with MyProtein – owned by the Hut Group – collapsed amid concerns over fan backlash towards the Glazer Family.
The company were reportedly concerned that angry supporters would boycott the club’s owners and their partners and pulled out of the deal, which would have been worth an eye-watering £200m over 10 seasons.
Furious fans have taken aim at the Glazers over their running of the club, transfer business, managerial appointments and their infamous involvement in the European Super League last year.
The club have been searching for a new partner after their lucrative eight-year contract with insurance company AON ended last season
But the club are now set to reach an arrangement with Tezos having held talks with a number of companies, the report adds.
Tezos is a blockchain – a decentralised network, best known for its role in cryptocurrency systems. Blockchains provide secure transactions, guaranteeing the fidelity of data without the need for a third party.
The blockchain platform Tezos provides, however, is advertised as more energy efficient – given the amount of computing power required in the transactions.
Tezos have their own digital token, known as Tez, which is bought and sold by traders to make a profit. It has seen a recent dip in value since November after rising on the markets in the last few years.
Potential sponsors had previously been put off by a potential backlash from supporters, who they feared could boycott them amid anger at the club’s owners
Joel and Avram Glazer are confident United still have a big commercial presence and hope the new deal with Tezos will improve their position in the technological world
It has already invested in sport sponsorship in recent years – striking a deal with the New York Mets baseball team last summer and also partnering with Formula One teams Red Bull and McLaren.
The club hope their deal with Tezos will maximise their presence in the metaverse and ‘web 3.0’.
United have taken confidence from their deal with Tezos, The Athletic’s report continues – saying it shows the club still has commercial pull and the ability to attract investors despite their plight on the football pitch.
Cristiano Ronaldo’s fairytale return to Old Trafford last summer has done much of the heavy lifting in their commercial performance, it claims – though his displays as a player are much more valuable than the benefits he brings off the pitch.
