English football club Manchester is set to collaborate with Tezos, a blockchain platform, for a multi-year partnership worth over £20 million per year. The $27 million per year deal will have Tezos sponsor the team’s training kit. The partnership will extend to the Web3.0 and Metaverse.
The partnership has strengthened both the football club and the blockchain platform. Manchester United’s commercial appeal to partners remains strong despite the COVID-19 pandemic. Sports commentators believe that Cristiano Ronaldo’s recruitment from Juventus has been a factor in boosting commercial opportunities for the FC.
Being a blockchain decentralized network, Tezos is known to play a significant role in cryptocurrency systems. It provides secure transactions and guarantees fidelity of data without the involvement of any third party. Tezos has its own digital token called Tez. It is traded for profit. Since November 2021, the token has recorded a dip in value after seeing highs in the past couple of years.
The deal with Manchester United is not Tezo’s first in the sports industry. In recent years, the blockchain platform has struck deals with Formula One’s McLaren and Red Bull, as well as New York Mets baseball team. The blockchain platform also teamed up with Team Vitality, a French esports organization, as its primary technology partner. Tezos will feature on the team’s t-shirt. Manchester United hopes to maximize its presence in the Web3.0 and metaverse.