FC Barcelona Chooses Spotify Over Crypto Sponsors

FC Barcelona, a Spanish soccer membership also called Barça, has reportedly rejected sponsorship bids from numerous crypto corporations.

Barcelona Rejects Crypto Sponsorship

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

The newspaper cites a “insecurity within the sector and the dearth of financial solidity of the [sponsorship] proposals” because the membership’s cause for rejecting these presents.

Although Sport didn’t point out which corporations had been rejected, Polkadot and Binance had been each stated to be bidding in January. Polkadot was anticipated to pay $110 million over 5 years; the quantity that Binance would have paid is unclear.

It must be famous that some studies steered that Barcelona intends to barter multiple sponsorships, and as such, it’s narrowly potential that Polkadot and Binance usually are not among the many cryptocurrency sponsors rejected by the soccer membership.

Different Sponsors Embody Rakuten, Spotify

Now, Barcelona is closing a sponsorship cope with music streaming firm Spotify. Spotify will achieve stadium naming rights in addition to a presence on numerous crew uniforms together with the primary crew package, girls’s package, and coaching package.

The precise quantity concerned within the Spotify deal remains to be unclear and can doubtless rely on participant efficiency, based on Sport. Nevertheless, different sources that Spotify pays about €280 million ($320 million) over three years for the sponsorship.

Beforehand, FC Barcelona was sponsored by the Japanese e-commerce website Rakuten, which by the way presents a digital pockets with some crypto options. That sponsorship led to 2021.

Disclaimer: On the time of penning this creator held lower than $100 of Bitcoin, Ethereum, and altcoins.