HomeNewsFC Barcelona Chooses Spotify Over Crypto Sponsors

FC Barcelona Chooses Spotify Over Crypto Sponsors


Reading Time: 2 minutes


Polkadot and Binance own both tried to sponsor the Spanish soccer membership.

Key Takeaways

  • FC Barcelona has reportedly rejected a variety of sponsorship bids from cryptocurrency companies in fresh weeks.
  • The Spanish soccer membership cited an absence of self-assurance within the cryptocurrency exchange as one motive for the decision.
  • Polkadot and Binance submitted bids in January; Spotify has secured a take care of the membership.

FC Barcelona, a Spanish soccer membership in total identified as Barça, has reportedly rejected sponsorship bids from a variety of crypto companies.

Barcelona Rejects Crypto Sponsorship

Spanish newspaper Sport reported on Feb. 22 that the soccer membership and its president, Joan Laporta, rejected a variety of sponsorship bids from cryptocurrency exchanges and companies.

The newspaper cites a “lack of self-assurance within the sphere and the lack of economic solidity of the [sponsorship] proposals” because of the membership’s motive for rejecting these offers.

READ MORE:   Ban less likely? Putin says crypto mining has advantages in Russia

Even supposing Sport didn’t camouflage which companies had been rejected, Polkadot and Binance had been both acknowledged to be bidding in January. Polkadot was expected to pay $110 million over five years; the amount that Binance would own paid is unclear.

It could maybe be famed that some experiences urged that Barcelona intends to negotiate a pair of sponsorships, and as such, it is narrowly that it is possible you’ll maybe well most likely imagine that Polkadot and Binance usually are now not amongst the cryptocurrency sponsors rejected by the soccer membership.

Varied Sponsors Encompass Rakuten, Spotify

Now, Barcelona is closing a sponsorship take care of music streaming company Spotify. Spotify will earn stadium naming rights apart from a presence on a variety of team uniforms collectively with the first team kit, ladies’ kit, and training kit.

The particular amount desirous in regards to the Spotify deal is aloof unclear and can even simply most likely depend upon player efficiency, primarily based on Sport. Nonetheless, varied sources that Spotify will pay about €280 million ($320 million) over three years for the sponsorship.

READ MORE:   Vibe killers: Here are the countries that moved to outlaw crypto in the past year

Previously, FC Barcelona was subsidized by the Jap e-commerce situation Rakuten, which incidentally offers a digital wallet with some crypto aspects. That sponsorship ended in 2021.

Disclaimer: This article is for informational capabilities only. It is no longer an immediate offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any merchandise, services, or companies. We do no longer provides funding, tax, neatly suited, or accounting advice. Neither the corporate nor the author is guilty, straight or no longer straight, for any injury or loss precipitated or speculated to be precipitated by or in connection with the usage of or reliance on any insist, items, or services mentioned in this text.


Most Popular