Why Barça rejected sponsorship bids from cryptocurrency companies

Why Barça rejected sponsorship bids from cryptocurrency companies

| sport

The Catalans are poised to sign a deal with Spotify to sponsor the shirt and stadium name

Barcelona president Joan Laporta, along with the rest of his team, rejected various offers from cryptocurrency exchanges to sponsor the club’s shirt, up to 70 million euros, per EFE.

The lack of confidence in the sector and the lack of economic solidity of the proposals were two handicaps that held Barcelona back, with neither the board or commercial department open to negotiating.

The club were working on a sponsor that was consistent with the club’s values and they deemed the cryptocurrency companies not to be.

After various months of analysis and sounding out options, the board are in the final stages of negotiations with Spotify, who will sponsor the first team kit and the women’s kit, as well as the back of the training kit and get stadium naming rights.

The deal is between 70m-75m euros a season, although has yet to be confirmed officially. The offer is lower than the cryptocurrency bids, with the final amount depending on the team’s performance too.

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