English Premier League side, Manchester United, are set to unveil a new £20million-a-year kit sponsorship deal with a New York-based crypto company, Tezos.
According to The Athletic, Tezos will embellish Manchester United’s training kit after their contract with Aon ended last season.
Tezos describes itself on its website as ‘an open-source platform that addresses key barriers facing blockchain adoption for assets and applications backed by a global community of validators, researchers, and builders.
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It adds: “By design, Tezos embraces long-term upgradability, open participation, collaboration, and smart contract safety.”
Manchester United are the 4th most valuable football club in the world.
The deal would represent Manchester United’s first major endorsement into the blockchain space.
United’s agreement with Tezos comes after a £200m deal with The Hut Group collapsed last year.
Pressure from protestors against all the club’s commercial partners forced the Manchester-based company to withdraw from an agreement.
A fan group calling itself NOTAPENNYMORE launched a social media campaign aimed at the club’s main sponsors – which include Adidas, who sell United kits around the world, Cadbury and more.
They issued an open letter to all the commercial partners claiming their products would be targeted, causing The Hut Group to pull out.
This happened a week after protests at Old Trafford and the club’s Lowry hotel base forced United’s home game against Liverpool to be postponed.
However, Manchester United had already managed to secure a new shirt sponsor in TeamViewer by that point.
The tech company replaced Chevrolet with United kits for the season.
And the deal sees the Red Devils pocket £47m each year – working out to a whopping total of £235m.