Manchester United has signed a multiyear deal with Tezos that will see the blockchain platform sponsor the team's training kit.
- Tezos branding will appear on the uniform worn by the soccer team's players while warming up before matches, starting with their home game against Southampton on Saturday, the club said Thursday.
- Terms of the partnership were not disclosed, though initial reports last week suggested Tezos would be paying in excess of GBP 20 million ($27 million) a year.
- The club also plans to introduce several fan experiences built on the Tezos blockchain.
- These may include the minting of non-fungible tokens (NFTs). Tezos last year partnered with McLaren Racing to build an NFT platform, listing tokens that illustrate the team's history and heritage.
- Sponsorship deals between sports teams or events and crypto firms have become more frequent in recent months – crypto exchange FTX and Crypto.com have both been active over the past year. In October Binance, the largest crypto exchange, signed a $30 million sponsorship agreement with Italian soccer club Lazio, and in England's top-tier Premier League, Watford secured a deal with Stake.com that added the dogecoin logo to the players' shirt sleeves.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.