Tuesday, October 4, 2022
HomeTechnologyFC Barcelona says big "No" to sponsorship offer from cryptocurrency exchanges

FC Barcelona says big “No” to sponsorship offer from cryptocurrency exchanges

FC Barcelona, popularly known as Barça, a Spanish football team, has reportedly turned down sponsorship offers from a number of cryptocurrency companies and chosen Spotify instead. Various sponsorship offers from cryptocurrency exchanges and companies were rejected by the football club and its president, Joan Laporta. It was spotify which could gain the confidence of FC Barcelona for sponsorship.

The club rejected the sponsorship ideas due to a “lack of confidence in the sector and the lack of economic soundness of the [sponsorship] propositions,” according to the publication.

Polkadot and Binance were both rumoured to be bidding in January, though Sport did not specify which businesses were rejected. Polkadot was supposed to pay $110 million over five years, but it’s unclear how much Binance would have paid.

Barcelona aims to negotiate several sponsorships, thus Polkadot and Binance are unlikely to be among the cryptocurrency sponsors rejected by the football club.

Woah, it seems like FC Barcelona still has some second thoughts about crypto’s brand value.

Kunal Krishan
Kunal is an investment space writer who firmly believes investment is something which should not be a choice but a part of everyone's life.
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