One of the world’s largest soccer organizations is scheduled to hold discussions with its teams to discuss a multi-year contract proposal with Sorare for digital collectibles.

If the deal is signed, the English Premier League and its 20 clubs will enter into an approximately $34.7 million per year deal with the non-fungible token (NFT) digital collectibles platform that will include a multi-year contract for static images. of players in the form of NFTs.

According to Sky News, the deal could be formally agreed within weeks.

Additionally, the deal will replace the Premier League’s initial deal with Infura’s blockchain infrastructure provider ConsenSys and metamask – which had been in the works earlier this year but not signed, according to a Sky News report.

The ConsenSys deal was under renegotiation until recently, however it fell through after a Premier League club executive said they had been told Sorare’s contract was more lucrative.

The Premier League’s deal with Paris-based startup Sorare will allow its hundreds of millions of avid fans to own a famous photo of their favorite player in the form of NFT art, as well as sports recaps.

French soccer player Kylian Mbappe and Japanese tech investment giant SoftBank have been major backers of Sorare, which recently teamed up with the NBA and other sports leagues. It recently grossed $680 million and was valued at more than $4 billion.

The Premier League also has a separate ongoing deal with Dapper Labs, another NFT specialist that started the popular NBA Top Shots platform.

The Premier League is the UK’s top-tier football organization. The combined revenue of the 20 Premier League clubs was projected to be around €6.2bn for the 2020/21 season.

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