Manchester United, one of the oldest football clubs, has announced a partnership deal with Tezos, one of the fastest-growing blockchain protocols in the world, as reported on the football club’s website.
The partnership deal will be renewed yearly with a sum of $27 million and an additional 33% levied on the lump sum.
As part of the partnership’s agreement, Tezos will be featuring on Man United (as popularly called) men and women training kits The agreement will also introduce Web3 technology to the football team’s supporters.
The relationship will also involve various new fan experiences created on the Tezos blockchain, as well as a commitment to assist Manchester United Foundation with continuous donations in Tez, the Tezos blockchain’s native currency. This donation will help to equip, teach, and inspire young people in the local community.
The EPL champion of the 2012/2013 season partnered with Tezos for a host of many reasons. According to the report, the blockchain is believed to be one of the foremost crypto enabled with “fast, secure and efficient digital interactions.” It also has capacity to develop with “regular updates designed and approved by its global community of users and developers.”
While warming up for their match against Southampton on Saturday, the football squad will wear the blockchain-themed jersey.
Confirming the news, the announcement was also made on the website of Tezos, it reads “the world’s greatest football club has selected Tezos as its blockchain of choice.”
Tezos was designed to be more energy-efficient than existing blockchains, allowing it to function in a cleaner and more environmentally friendly manner, among other factors that made it achieve the football club’s partnership.
The proof-of-stake crypto has taken the lead to be the latest amongst other blockchains to sign a partnership deal, it has also negotiated terms of sponsorship with the New York Mets, an American baseball team, and McLaren Racing, a British car racing team.
Tezos (XTZ) currently has a market cap of $3,819,381,817 with a selling price of $4.36 USD making it rank amongst the most elite coins on the crypto trading list. The current price quote has declined at the rate of 4.01% in the past 24 hours.