NewsFC Barcelona receives 100 million euros from cryptocurrency company...

FC Barcelona receives 100 million euros from cryptocurrency company Socios

-

- Advertisment -spot_img

Socios.com has obtained 25% ownership of the audio visual studio of Spanish soccer club FC Barcelona for 100 million euros. The parent company of Socios.com is Chilliz and they previously helped the soccer club develop its own token.

Reuters wrote yesterday that FC Barcelona chief Joan Laporta has confirmed the deal. The Spanish soccer club has relinquished 25% of Barça Studios, an audiovisual production company, for this huge sum.

What does this mean for FC Barcelona?

We could go into a long story here about how Barcelona wants to further cryptocurrency adoption but really it’s just about that 100 million euros. This money is badly needed as they want to register new players for the soccer league. The explanation below may not be the whole story but then again this is not a soccer website.

Since 2013 there is a limit to what a club can spend on players, coaches, physios and so on. Clubs can choose how the money is distributed to transfers or wages, provided the overall limit is not exceeded.

This limit is based on financial data that clubs must submit to La Liga. Factors taken into account include expected revenues for the coming season, as well as profits and losses from previous years, overhead costs, non-player contracts, current savings, any existing debt repayments, investments and sources of external funding.

Player enrollment

Whenever a club wants to register a new player using La Liga’s own “LaLiga Manager” software system, the transfer is automatically checked. Only if they are satisfied that the club has enough room in their budget to cover the transfer fee and salary can a new player be registered to play (in any league).

Last year Barcelona exceeded this limit so they could not register Messi for the league and he went to another club.

Metaverse, NFTs and Barca tokens

With that 100 million, Socios.com becomes a technology partner of the club of Frenkie de Jong and Memphis Depay to help with their Web3, non-fungible token (NFT) and blockchain strategies. Laporta said:

“Barca Studios includes in its portfolio metaverse, NFTs and Barca tokens. It’s the sale of an interest … it’s basically forever, we can get it back if something happens.”

The Reuters article reports that Chiliz, owner of Socios.com, is acquiring a strategic investment in Barca Studios. Part of this is that Barcelona will receive help from Socios.com to build new digital relationships with its 400 million global supporters.

Benfica and Socios.com

Last month announced that the Portuguese top club Benfica, is also developing a fantoken with Socios.com. In addition, Socios.com has also entered into partnerships with Rugby Union teams Leicester Tigers, Harlequins and Saracens in recent weeks.

The rate of bitcoin and other cryptocurrencies are not having a good year. This is causing reduced interest among users of cryptocurrencies, which has resulted in reduced revenue. According to the New York Post this in turn has led many crypto companies to withdraw from sponsorship deals.

The newspaper wrote that FTX pulled out of a deal to sponsor the Los Angeles Angels, while another partnership between basketball company Washington Wizards and a crypto company also fell through due to market turmoil.

In the Netherlands, the sponsorship deal between BLOX and Ajax unabated, despite the bear market. This year, too, the crypto-app’s name appears on the sleeve of the soccer shirts from Amsterdam.

Latest

- Advertisement -

Must Read

- Advertisement -

Read Next
Recommended to you

BitNewsBot.com