The report that Tezos (XTZ) has made a major deal with Manchester United has spiked the price of the popular altcoin project. Tezos (XTZ) has reportedly signed a multi-million dollar deal with Manchester United, which is presented as the factor behind the price jump.
Million-dollar deal from popular altcoin project
Tezos (XTZ), one of the leading proof-of-stake blockchain platforms, has signed a training kit deal with professional English football club Manchester United, The Athletic reports. The price of the Tezos (XTZ) cryptocurrency rose roughly 5%, outperforming the overall cryptocurrency market. The signing of the agreement has not yet been officially announced by the parties. According to the information received, the value of the deal seems to be more than 20 million pounds per year, approximately 27 million dollars. Tezos (XTZ) will have the right to display its logo on the club’s training set. According to the report, MU, one of the most prestigious football clubs in Europe, has already prepared promotional materials for the partnership.
The club’s eight-year sponsorship contract with American insurance giant Aon expired at the end of last season. United is showing signs that it may also explore Web 3.0 as part of its collaboration with Tezos. Unlike the deal with Aon, Tezos (XTZ) will not add its name to the Carrington training ground. Prior to Tezos, several other cryptocurrency projects are reportedly being considered for the deal. Hut Group, a British e-commerce company, was in talks to reach a deal with the legendary football club last year, but the partnership fell through due to fans opposing the club’s owners.
United is currently controlled by the children of the late American entrepreneur Malcolm Glazer. President Joel Glazer European received serious reactions from fans last year for his highly controversial Super League plan. According to the information received, the English Premier League has begun scrutinizing the cryptocurrency deals signed by the club after Manchester City signed and suspended a partnership with a dubious crypto startup with no online presence.