O’Melveny Advises Sorare on Multi-Year NFT Agreement with Major League Soccer
March 30, 2022
FOR IMMEDIATE RELEASE
NEW YORK—March 30, 2022—O’Melveny represented Sorare, the player-owned fantasy sports game, in a multi-year agreement that will make it the official NFT Fantasy game of Major League Soccer (MLS). As part of the deal, Sorare will launch NFTs for all MLS players.
MLS’ young and tech-savvy fan base of collectors and fantasy players alike will be able to freely trade and play with MLS NFTs for the first time. The agreement leverages the innovative leadership of MLS and Sorare at the intersection of sports, gaming, and technology.
Unlocking a new era of sports fandom on and off the field, Sorare and MLS are combining NFT collectibles with a free-to-play fantasy sports game to drive long-term utility and value for NFTs on the platform and beyond. The exclusive NFT collection will launch Spring 2022, allowing fans to collect and play with their favorite MLS teams and players in their fantasy game lineups.
The O’Melveny team advising Sorare on this transaction was led by Chuck Baker, Co-Chair of O’Melveny’s Sports Industry Group, and Amy Siegel, Co-Head of O'Melveny's Entertainment, Sports and Media Industry Group. Counsel Alex Piarino also advised on the deal.
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Contact:
Christopher Rieck
O’Melveny & Myers LLP
+1 212 326 2218
crieck@omm.com
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Major League Soccer (MLS) issued the following press release:
MLS Teams Up with Sorare to Create Next Generation Fantasy Game
Tuesday, Mar 29, 2022
Multi-year Deal is the Latest Evolution of League’s Commitment to Celebrating Soccer Creativity and Providing Fans with Premium Experiences Across Multiple Platforms
New York, N.Y. (Tuesday, March 29, 2022) – Sorare, the player-owned fantasy sports game leveraging non-fungible tokens (NFTs), announced a multi-year agreement with Major League Soccer (MLS), the fastest-growing sports league in North America, making Sorare the League’s official NFT Fantasy game. Sorare will launch NFTs for all MLS players.
MLS’ fan base – North America’s youngest and most tech-savvy – collectors, and fantasy players alike will be able to freely trade and play with MLS NFTs for the first time. The agreement leverages the innovative leadership of MLS and Sorare at the intersection of sports, gaming, and technology.
Unlocking a new era of sports fandom on and off the field, Sorare and MLS are combining NFT collectibles with a free-to-play fantasy sports game to drive long-term utility and value for NFTs on the platform and beyond. The exclusive NFT collection will launch Spring 2022, allowing fans to collect and play with their favorite MLS teams and players in their fantasy game lineups.
“At Major League Soccer, our Emerging Ventures team is always looking two steps ahead to offer our fans enriching experiences and to expand our global reach, including in LATAM and Asia,” said Chris Schlosser, Major League Soccer’s SVP of Emerging Ventures. “We’re excited to continue our progressive approach to bring NFTs to MLS with industry-leader Sorare. Utilizing the latest technology to provide fans the opportunity to add MLS players and future stars to their personal collections and give them an interactive free-to-play fantasy soccer game made Sorare the obvious choice.”
The deal represents a major milestone for Sorare as it strikes its first U.S. deal since the company opened its U.S. office at the end of 2021, underscoring its growing dominance in the U.S.
“We’re excited to welcome Major League Soccer to our Sorare family. Our global community of sports fans are eager to start collecting and playing with their favorite teams and players from the league,” said Ryan Spoon, Chief Operating Officer, Sorare. “From collectors to first-time NFT buyers, our NFT x Fantasy model uniquely engages fans with the sport they love in a way that goes beyond just spectating, and makes them feel truly connected to each team, player and game.”
For more information on MLS and Sorare, visit MLSsocer.com.
About Major League Soccer
Headquartered in New York City, Major League Soccer – celebrating its 27thseason in 2022 – features 29 clubs throughout the United States and Canada, including 2022 expansion team Charlotte FC and St. Louis City SC, which debuts in 2023. For more information about MLS, visit www.MLSsoccer.com.
About Sorare
Founded in 2018, Sorare was created by football fans for football fans. Sorare is transforming online sports fandom and giving its community a new way to connect to the clubs and players that they love. The game in February 2022 had 350K Monthly Active Users across 184 countries. Based in Paris and New York, Sorare is funded by a world-class team including Benchmark, Accel Partners, Softbank, and footballers Gerard Piqué, Antoine Griezmann and Rio Ferdinand.
See all licensed clubs on Sorare here.