Premier League settles for UK£30m a year Sorare NFT deal, says report – SportsPro Media
English soccer’s top-flight Premier League is lining up a UK£30 million (US$34.4 million) a year non-fungible token (NFT) deal with Web 3.0 specialist Sorare after talks with sector rival ConsenSys collapsed, according to UK media reports.
Earlier this year it appeared ConsenSys had won the race to secure the Premier League’s NFT digital collectibles contract, with a deal said to be worth as much as UK£400 million (US$459 million). However, this collapsed after the ‘crypto winter’ wiped away much of the previously significant resources available to companies in the blockchain space.
Although SportsPro reported in September that a deal with ConsenSys was not completely dead, it appears the Premier League has now moved on and is reportedly close to confirming a partnership with France-based Sorare.
According to Sky News, clubs in the English top flight discussed the proposal in a call on 28th November after Sorare came back with a more lucrative offer than the revised ConsenSys proposal.
Sorare is backed Japanese technology investment firm SoftBank and was valued at more than US$4 billion in after a fundraising round last year.
The Premier League is also said to be working on a separate deal with Dapper Labs for a different blockchain-related product.
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