Tezos will sponsor Manchester United’s new £20m-per-year training outfit

By:
on Feb 4, 2022
  • Manchester United will announce a sponsorship contract for their training outfit.
  • Tezos will customise Manchester United's full kit.
  • The partnership could see united delve into the Metaverse and Web 3.0

Manchester United is expected to announce a new sponsorship contract worth £20 million a year for their training outfit. According to The Athletic, the deal does not include the Carrington football field.

The Athletic reports that Tezos will customise United’s full kit following the expiration of their previous contract with American insurance coverage firm Aon last season, rendering their uniform blank thus far this season.

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It has been reported that negotiations to swap Aon for The Hut Group have broken down because of concerns about a fan boycott of United’s corporate partners as a protest against the Glazer family’s ownership of the club. Since the start of the season, the team has been working without a sponsor for their training.

Tezos (XTZ/USD) is now expected to announce a large partnership with United after conversations with numerous other corporations, including those in the blockchain world. Tezos is a blockchain, which is a sort of decentralized computer network similar to Ethereum which promotes itself as ‘an open-source platform backed by a global society of validators, academics, and builders’.

Using a blockchain like Tezos, supporters believe that automated transactions can be completed more quickly than with today’s technologies, while also removing the need for pricey middlemen.

Tezos, on the other hand, advertises itself as a platform that consumes less energy when compared to other platforms. United is said to have done extensive research before agreeing to the agreement, and the partners were judged trustworthy.

Due to United’s deal, they can be assured that their commercial attraction to partners will remain strong despite the outbreak and a testing period for on-pitch performances.

This season, Manchester United’s summer acquisition of Cristiano Ronaldo from Juventus contributed to the club’s increased business opportunities. However, the club sees these benefits as secondary to Ronaldo’s potential as a player.

To make money in the crypto market, traders buy and sell Tez, the Tezos digital currency. Cryptocurrency trading is a high-risk endeavour that is largely unregulated. Since November, the price of Tezos tokens has plummeted significantly, mirroring the overall fluctuation in the crypto market.

In May 2021, Tezos will become the first blockchain partner of the New York Mets and the first of all 30 Major League Baseball teams to do so.

It was revealed in May by Red Bull Racing Honda and Tezos that the racing team would build its first-ever NFT experience. As a McClaren Racing sponsor, Tezos backs Formula 1, IndyCar, and Esports.

As one of the biggest partnerships in “Europe esport history,” Team Vitality Tezos secured Tezos’s vision for the front of the Tezos shirt in January 2022.

The partnership may also include collaboration outside the United’s training kit, which could aid United in their efforts to maximise chances in the metaverse and “web 3.0,” as well.

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