The deal for the U.K. soccer team’s training kit is for more than $27 million per year.
Blockchain platform Tezos is set to secure a multiyear deal to sponsor soccer team Manchester United’s training kit for more than £20 million ($27 million) a year, according to a report by The Athletic.
The club’s previous training-kit sponsorship agreement, with professional services firm Aon, expired at the end of the last season and was worth £120 million over eight years. That means Tezos will be paying 33% more than its predecessor.
While Tezos has previously secured sponsorship deals with Formula 1’s McLaren Racing and Major League Baseball’s New York Mets, the Premier League club is considered to have among the biggest fan bases of any soccer club in the world, along with Spain’s Real Madrid and FC Barcelona. It also seen as having one of the most valuable soccer team brands.
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 particularly active in this area over the last year.
This article was originally published on Coindesk by Jamie Crawley