FC Barcelona Choose Spotify Over Crypto Sponsors

Key points to remember

  • FC Barcelona have reportedly rejected various sponsorship offers from cryptocurrency companies in recent weeks.
  • The Spanish football club cited lack of trust in the cryptocurrency industry as one of the reasons for its decision.
  • Polkadot and Binance submitted offers in January; Spotify has reached an agreement with the club.

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FC Barcelona, ​​a Spanish football club also known as Barça, has reportedly rejected sponsorship offers from various crypto companies.

Barcelona reject crypto sponsorship

Spanish newspaper Sport reported on February 22 that the football club and its president, Joan Laporta, had rejected various offers to sponsor cryptocurrency exchanges and companies.

The newspaper cites a “lack of confidence in the sector and the lack of economic solidity of the [sponsorship] proposals” as the club’s reason for rejecting these offers.

Although Sport did not indicate which companies were rejected, Polkadot and Binance both reportedly bid in January. Polkadot was to pay $110 million over five years; it is unclear how much Binance would have paid.

It should be noted that some reports suggest that Barcelona intend to negotiate multiple sponsorshipsand as such, it is narrowly possible that Polkadot and Binance are not among the cryptocurrency sponsors rejected by the football club.

Other sponsors include Rakuten, Spotify

Now Barcelona are striking a sponsorship deal with music streaming company Spotify. Spotify will get naming rights to the stadium as well as a presence on various team uniforms, including the first team kit, women’s kit and training kit.

The exact amount involved in the Spotify deal is still unclear and will likely depend on player performance, according to Sport. However, sources other than Spotify will pay around 280 million euros ($320 million) over three years for the sponsorship.

Previously, FC Barcelona was sponsored by the Japanese e-commerce site Rakuten, which incidentally offers a digital wallet with some cryptographic features. This sponsorship ended in 2021.

Disclaimer: At the time of writing this article, this author held less than $100 worth of Bitcoin, Ethereum, and altcoins.

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