The Premier League is likely to strike a £30m-a-year deal with Sorare, a Paris-based start-up. Under this deal, the English’s most competitive and compelling football league will sell NFTs to its fans.
The initiative will focus on NFTs featuring static images of Premier League players which fans can own. The images and sporting highlights will include prominent footballers such as Tottenham Hotspur’s Harry Kane and Erling Haaland of Manchester City.
However, the proposed multi-year deal is yet to be discussed with the 20 teams that make up the top flight. Reportedly, the deal will officially be announced in a matter of weeks after talks at a meeting of club executives taking place on Friday this week.
This deal can potentially replace an agreement with ConsenSys that was scheduled to be signed earlier this year, as per the sources familiar with the matter.
Though ConsenSeys tried to renegotiate a deal at a lower price following a decline in NFT valuation, Sorare contract proved to be more lucrative than the revised ConsenSys proposal.
Interestingly, the popular football club Liverpool FC also partnered with the Sorare on multimedia fan content and revealed it as the club’s official global partner. Other than that, a deal between Premier League and Dapper Labs is also under discussion.
