A recent rumor claims that the UK’s Premier League is in discussions with two NFT companies regarding a proposal to manufacture tokens with a football theme. The contract’s annual value might reach £30 million.

The Premier League and Sorare are working together.

According to reports, the Premier League and the French business Sorare are in negotiations for a £30 million contract. Most likely, the initiative would include creating NFTs based on photos of famous athletes and selling them to fans as unique digital mementos.

He reportedly intended to meet with the Premier League’s main football clubs in the UK, including Manchester City and Tottenham. The multi-year contract might be finished in a few weeks if the organization and the clubs reach an agreement.

Surare is a 2018-born business with its headquarters in Paris. French soccer player Kylian Mbappe and Japan’s Softbank are sponsors of the business. In addition, Sorare created the identical-named card video game built on blockchain with a football theme that was released in 2019.

NFTs with Premier League and football themes

The cryptocurrency startup Sorare is not the first or the only one to engage in negotiations with the Premier League. An earlier agreement with ConsenSys was replaced by the current £30 N arrangement with the French business. According to reports, the contract with ConsenSys is worth £400 million.

Due to the ongoing “crypto cold,” which has caused serious issues for NFT markets with volume down 68% year over year, ConsenSys tried to renegotiate the agreement. The Premier League abandoned the agreement in favor of one with Sorare, which it reportedly believed to be more lucrative.

The Premier League is also in discussions with another NFT startup, claims the same statement. Due to their August agreement with Ticketmaster to handle NFL memorabilia in the form of NFTs, Dapper Labs also has some experience in the sports industry.