Blockchain platform Tezos (XTZ) has reportedly inked a $27 million-per-year training kit sponsorship deal with the English Premier League giants Manchester United.
A story broken by The Athletic recently, revealed that Tezos (XTZ), an advanced and energy-efficient blockchain network has gotten into a multi-year training kit sponsorship deal with Manchester United, one of the most popular soccer (football) clubs in the history of the game.
While the formal announcement hasn’t been made yet, by either of the parties, The Athletic claims that both have agreed on a $27 million-per-year arrangement. Further, United has already shot the concerned promos at its training centre.
Prior to this deal, Manchester United had a $162 million sponsorship contract with Aon, an American insurance company, which concluded at the end of the last football season. The club was in sponsorship discussions with various companies, many in the blockchain industry, but are finally set to unveil their collaboration with Tezos.
Under this partnership, Man United players will be seen sporting the Tezos logo on the front of their training shirts. There may also be some kind of tech collaboration in the future, including for Web3 and/or metaverse projects.
A clean and energy-efficient blockchain
Many from the Man United’s fan community raised concerns regarding Tezos partnership, worried about the carbon emissions usually generated by computation-heavy blockchains. However, United has reportedly done all the due diligence and has signed the dotted line only after being 100% sure about Tezos’ energy-efficiency.
The blockchain is run by the Tezos Foundation, and its ability to operate cleanly while securing its network is one of Tezos’ USPs. Hence, projects running atop Tezos cause minimum energy consumption and the network has significantly lower carbon footprint as compared to other blockchains.
The network has witnessed remarkable growth over the past one year, particularly in the number of smart contracts deployed on the platform and general adoption, mainly driven by the NFT (non-fungible token) minting and markets.
Not the first sports partnership for Tezos
This isn’t the first time that Tezos has partnered with a sports team. The company is heavily invested in sports sponsorships already. Last year it announced tie-ups with a couple of prominent Formula 1 racing teams – Red Bull Racing and McLaren Racing – to help them with their NFT collections. While RBR announced Tezos as its official blockchain partner in May 2021, McLaren Racing roped in the company in a multi-year deal, as its official technical partner across its eSports, Indycar and F1 teams.
In addition, Tezos was signed up a month ago by the well-known French eSports organisation Team Vitality, for boosting the latter’s fan engagement initiatives.
Tezos’ collaboration with Manchester United underlines the impact and strength that blockchain companies have across the world today, particularly in the sports domain.
XTZ was trading at $4.06 per coin at the time of reporting this story, with a market cap of $3.66 billion.