While the cryptocurrency and blockchain space is still in its infancy, it’s a burgeoning industry that is quickly redefining finance and remittance, individual sovereignty of wealth via decentralization, and a host of other use cases. A number of different firms and organizations have taken the world of Blockchain technology into the football arena in different ways. At most, they seek to gain easy access as they make moves to be associated with some of the biggest players, teams, and competitions. In turn, they share a part of the Goodwill which comes home. Football is the most-watched sport in the world, captivating the minds of billions throughout its history as 14.9 million people viewed the NFL game in 2020.
Being bent on reinventing the wheels, Tezos which is a decentralized open-source blockchain that executes peer-to-peer transactions and serves as a platform for deploying smart contracts, having its native cryptocurrency for the Tezos blockchain as tez which has the symbol XTZ sets the wheel in motion as she debuts her new sponsorship deal with Manchester United. To advocates, blockchains like Tezos could be a way to carry out computerized transactions more efficiently than current technology and help to remove expensive middlemen from the process.
Blockchain Invasion
With the gradual invasion of giant merger companies and organizations, mostly Blockchain techs like Cryto.com and Coinbase to gain sponsorship deals or partnerships in the game of football, Manchester United is set to unveil a new multi-year sponsorship of their training kit by announcing a partnership with the blockchain platform, Tezos. United’s deal has given the club confidence that its commercial appeal to partners remains strong despite the pandemic and a testing period of performance on the field. Manchester United’s summer signing of Cristiano Ronaldo from Juventus has been a factor in helping to drive commercial opportunities during this campaign, although United views these benefits as secondary to his potential contribution as a player.
A little above the Icing
However, there seems to be more to this new record-breaking deal. It is also believed that the deal may involve collaboration beyond the United’s training kit, which would help United in their attempts to maximize opportunities in the technology space, including the metaverse and “web 3.0” which serves as a big gig.
Tezos, however, presents itself as a more energy-efficient platform that is ready to drive sustainable productivity with her new sponsorship deal partner. United is understood to have conducted due diligence before agreeing to the deal and considers the partners to be credible.
The Sponsorship Dealer
The Athletic can reveal that the parties have agreed to a deal worth more than £20 million per year and more so, United has shot promotional materials at the club’s training center ahead of an announcement. The Carrington training ground itself is said to be in exclusion from the agreement deed. Prior to this time, United’s previous eight-year £120 million sponsorship contract with American insurance company Aon concluded at the end of last season.
With lingering thrills, United seems to hold so much prospect in their new sponsorship partner. Discussions to replace Aon with The Hut Group were reported to have collapsed when the Manchester-based company pulled out due to concerns about a fan campaign to boycott United’s commercial partners as part of a protest against the Glazer family’s ownership of the club. The team has been operating without a front-of-shirt training sponsor this season and it’s time to get more face value.
