Man United news: Finance guru salutes club chiefs after £40m-plus deal signed
Man United have done well to secure an upswing in the value of their training kit sponsorship through a £20million-a-year deal with Tezos.
That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the partnership with the blockchain platform.
The Athletic reported yesterday (3 February) that Tezos will pay United a £20m annual fee for the right to sponsor their official training wear.
The exact length of the deal has not been specified but it is understood that it is a multi-year agreement, meaning the deal is worth at least £40m in total.
Tezos take over from US-based insurance firm Aon, whose deal expired at the end of the 2020-21 season.
Plumley explains that the new deal represents a 25 per cent lift on the Aon agreement.
“This is a big deal,” the Sheffield Hallam University expert told Football Insider‘s Adam Williams.
“United’s previous deal was worth around £15m per season, so there is an uplift there.
“There was a gip to be filled after the previous deal expired at the end of last season.
“Compare this to West Ham and you see they earn only £10m-a-year for their front-of-shirt deal. So it’s a really decent amount of money.
“It’s no surprise to see the partnership with companies like Tezos in this space.
“They already have deals with the New York Mets, Red Bull Racing, McLaren etcetera.
“The normal caveats apply with blockchains and crypto deals but they appear to have done their due diligence here.”
The Tezos agreement is United’s first foray into the blockchain space.
Brighton and Liverpool are the only Premier League clubs not yet formally involved with cryptocurrency, NFTs or the blockchain.
In other news, Man United tipped to fund Mauricio Pochettino transfer bonanza after manager hunt update.