Following the news that the blockchain platform Tezos will be Manchester United’s new training kit partner,

Conrad Wiacek, Head of Sport Analysis at GlobalData, a leading data and analytics company, offers his view:

“Prior to 2021, many cryptocurrency deals within sport were either low value or short-term; but crypto brands are now making a play for big-ticket items—from stadium naming rights to front-of-shirt deals. This latest association with one of the world’s largest soccer clubs is further evidence.

“Last year saw a 488% increase in the number of cryptocurrency and blockchain partners entering sport sponsorship agreements, and GlobalData’s report, ‘Cryptocurrency Sector Sport Sponsorship 2022 Landscape’, notes that soccer was responsible for just over 52% of all deals in the sector.

“With agreements worth over $742 million annually—and with over $3 billion committed by cryptocurrency partners over the course of their contracts, with soccer directly responsible for $330 million in sponsorships agreements—cryptocurrency and blockchains are stepping in to offset losses suffered by sporting organizations as a result of the pandemic. In 2021, cryptocurrency firms were the most active sponsors signing a  host of new agreements.

“With front-of-shirt deals like Paris Satin Germain’s agreement with Accor Hotels*, currently worth $73.75m, we will be seeing more cryptocurrency firms taking significant pieces of sponsorship real estate in 2022.”

* Ending at the end of the 2021-22 season