Finance guru: Man City demanding to ‘see the money’ as £300m deal on cards
Man City will be be keen for the Premier League to finalise a £30million-a-year NFT partnership.
That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about how City could be one of the main beneficiaries of a league-wide deal.
It was widely reported earlier this year that the top-flight was close to striking a deal worth £400m with NFT firm Consensys.
But the cryptocurrency market crashed in September, leaving the arrangement hanging in the balance.
Now, as relayed by Sky News last Thursday (27 October), the Premier League is lining up a new 10-season, £30m-a-year deal with Sorare.
Plumley analysed the £10m-a-year drop-off in value between the two deals, which he chalks up to declining confidence in the NFT industry.
But the spreadsheet expert insisted that City will be saying “show us the money” in any case.
“I think this shows the risk and the volatility of the market,” the Sheffield Hallam University expert told Football Insider’s Adam Williams.
“The initial Consensys deal was mooted as £400m over 10 years. That’s £40m per year. This one is down to £30m.
“Consensys eventually wanted to lower that because of what had happened in the market. So, at the moment £30m seems like a really good deal.
“This startup seems a little more advanced in the sector. They have been valued as high as $4bn, although that is a valuation in a very volatile market, so it doesn’t hold much weight.
“So, there is still a risk factor. But if the Premier League can sign a £30m deal, the clubs will be saying ‘show us the money.’
“How it is carved up will be interesting. That might benefit a club like City more.
“But the risk factor is more about the volatility of the market as opposed to having not taken an offer in the early stages.“
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