Tezos has been named as Manchester United‘s new training kit sponsor in a multi-year arrangement. Since their contract with Aon ended last season, the Old Trafford giants have been without a training apparel sponsor.
About the Deal with Tezos
Tezos will become United’s official blockchain partner as part of the arrangement, which is said to be valued at more than £20 million each year. It does not include the name rights to the training grounds.
United’s chief executive of alliances and partnerships, Victoria Timpson, said: “This is a hugely exciting partnership for Manchester United because it aligns us with one of the most advanced, reliable and sustainable blockchains in an area of technology which promises to truly revolutionize the way that everyone, including the club and our fans, can interact.”
“We are especially pleased to be partnering with one of the eco-friendliest blockchains, using technology that is energy-efficient, limits carbon emissions, and lowers costs, consistent with the club’s wider efforts to promote environmental sustainability.”
“Partnerships are at the core of our strength as a club, supporting the drive for success on the pitch, and we are delighted to welcome Tezos as the latest industry leader to join our family of partners.”
Training without a Sponsor
United’s players have been practising without a sponsor so far this season after an agreement with MyProtein, which is owned by The Hut Group, fell through due to fears of fan backlash against the Glazer family.
The corporation withdrew out of the arrangement, which was worth an eye-watering £200 million over ten seasons, because of fears that enraged fans would boycott the club’s owners and partners.
Fans have been enraged by the Glazers’ management of the club, their transfer dealings, managerial appointments, and their infamous participation in the European Super League last year.
About the Blockchain Platform
Tezos is a decentralized network (blockchain) that is most known for its use in cryptocurrency systems. Blockchains allow for secure transactions while also ensuring data fidelity without the use of a third party. Tezos’ blockchain platform, on the other hand, is touted as being more energy-efficient, considering the amount of processing power required in transactions.
Tezos has its digital token, Tez, which is purchased and sold by traders for profit. After gaining in value in recent years, it has suffered a dramatic drop in value since November. It has previously made sport sponsorship investments in recent years, signing a deal with the New York Mets baseball team last summer and working with Formula One team’s Red Bull and McLaren. The club is hoping that their partnership with Tezos will increase their visibility in the metaverse and on the ‘web 3.0’.