Manchester United announce £20m-per-year training kit sponsorship deal with blockchain plaftorm Tezos after contract with AON ended as the club claim partnership will 'revolutionise the way we interact with fans'
* Manchester United have announced a new training kit sponsorship with Tezos
* The deal with the blockchain platform is worth around £20million per year
* United believe the lucrative partnership will revolutionise fan interaction
Manchester United have announced Tezos as their new training kit sponsor in a multi-year deal.
The Old Trafford giants have been without a training apparel sponsorship since their partnership with Aon came to an end last season.
The deal with Tezos is reportedly worth in excess of £20million per year and also sees them become United's official blockchain partner. It does not include the training ground naming rights.
Manchester United have struck a £20million kit sponsorship with blockchain platform Tezos
Tezos is a decentralised network known for its role in cryptocurrency systems and has its own digital token that can be bought and sold by traders
Victoria Timpson, chief executive of alliances and partnerships at United, said: 'This is a hugely exciting partnership for Manchester United because it aligns us with one of the most advanced, reliable and sustainable blockchains in an area of technology which promises to truly revolutionise the way that everyone, including the club and our fans, can interact.
'We are especially pleased to be partnering with one of the most eco-friendly blockchains, using technology that is energy-efficient, limits carbon emissions and lowers costs, consistent with the club's wider efforts to promote environmental sustainability.
'Partnerships are at the core of our strength as a club, supporting the drive for success on the pitch, and we are delighted to welcome Tezos as the latest industry leader to join our family of partners.'
The club believe the multi-year deal will 'revolutionise' the way they connect with fans. The club have been searching for a new partner after their lucrative eight-year contract with insurance company AON ended last season. United players had been training without a sponsor after the club's deal with MyProtein collapsed amid concerns over fan backlash towards the Glazer family
United players had been training without a sponsor so far this season after the club's deal with MyProtein - owned by the Hut Group - collapsed amid concerns over fan backlash towards the Glazer family.
The company were reportedly concerned that angry supporters would boycott the club's owners and their partners and pulled out of the deal, which would have been worth an eye-watering £200m over 10 seasons.
Furious fans have taken aim at the Glazers over their running of the club, transfer business, managerial appointments and their infamous involvement in the European Super League last year.
Tezos is a blockchain - a decentralised network, best known for its role in cryptocurrency systems. Blockchains provide secure transactions, guaranteeing the fidelity of data without the need for a third party.
The blockchain platform Tezos provides, however, is advertised as more energy efficient - given the amount of computing power required in the transactions.
Tezos have their own digital token, known as Tez, which is bought and sold by traders to make a profit. It has seen a recent dip in value since November after rising on the markets in the last few years.
It has already invested in sport sponsorship in recent years - striking a deal with the New York Mets baseball team last summer and also partnering with Formula One teams Red Bull and McLaren.
The club hope their deal with Tezos will maximise their presence in the metaverse and 'web 3.0'.
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