Companies continue to pay up to partner with Manchester United (MANU)...
This morning, the soccer franchise announced a new partnership with blockchain firm Tezos. Under the partnership, Tezos' logo will be displayed on MANU's training and pre-match shirts, MANU said. According to a report from BBC Sport, the deal is worth about £24 million ($32.6 million).
MANU shares are up 0.36% to $13.80.
That price tag just goes to show how much companies will pay to get a partnership with MANU. If the BBC's report is correct, MANU's sales could see a 3% boost this year.
The soccer franchise's brand is its own "Trophy Asset." It is one of the most well-known sports franchises in the world. By its own estimates, it has a global fanbase of more than 1 billion people.
The franchise's sought-after brand will continue to drive demand for its products. Year after year, its fans line up for new merchandise Businesses will continue to line up to do sponsorship deals with one of the largest sports franchises in the world to get their logo in front of all of those fans.
MANU's Trophy Asset brand should continue to pull in millions in partnerships and new sponsors. That's a long-term tailwind for MANU shares.