Spotify, FC Barcelona Strike Sponsorship Deal Worth Reported EUR 300 Million

Barcelona introduced on Tuesday that Spotify will change into their major sponsor from subsequent season, with the membership’s stadium to be rebranded as Spotify Camp Nou from July.

Spotify may even seem on the entrance of the lads’s and ladies’s group shirts for the subsequent 4 seasons and on the membership’s coaching shirts for the subsequent three.

Barca haven’t confirmed how a lot the sponsorship deal is price though reviews have advised the membership might earn as much as EUR 300 million (roughly Rs. 2,513 crore) over the 4 years.

Spotify will substitute Rakuten, the Japanese e-commerce firm, as Barcelona’s major sponsor. The Rakuten deal began in 2017 earlier than being renewed in 2020 till the top of this season.

The membership’s president Joan Laporta referred to as the settlement with Spotify a “pioneering” partnership with a “world-renowned organisation”.

“It is also a union with which we continue to take steps forward in this new era that we have started,” Laporta added.

Barcelona have been desperately looking for a brand new sponsorship deal to assist ease the membership’s crippling money owed of greater than a billion euros.

Laporta insisted in January that Barca are “back as big players” within the switch market however strikes for the likes of Erling Haaland from Borussia Dortmund will rely upon an enormous enchancment of their monetary state of affairs.

When requested about Barca’s hopes of signing Haaland this summer season, La Liga’s director normal Javier Gomez stated on Monday that Barcelona must “reduce costs or bring in more income, there’s no other way”.

La Liga set Barcelona’s spending after the January switch window at — EUR 144 million (roughly Rs. 1,206 crore), down from EUR 98 million (roughly Rs. 821 crore) final summer season. The Spanish league stated Barca’s losses have been EUR 242 million (roughly Rs. 2,027 crore) greater than anticipated.

“Barcelona’s losses are greater than their ability to bring in income. That’s why it is negative,” Gomez stated.

Barcelona’s participant salaries accounted for 103 % of all revenue firstly of the season and the membership must shift extra gamers in the summertime, with Ousmane Dembele anticipated to depart on a free switch when his contract expires in July.

Lionel Messi, Luis Suarez, Antoine Griezmann and Philippe Coutinho have all been moved on within the final two years whereas Sergio Aguero retired as a consequence of a coronary heart situation.

Gerard Pique agreed to scale back his wage to permit Barca to signal Memphis Depay and Eric Garcia final yr.

Yet Barcelona have been allowed to make extra signings in January as Ferran Torres arrived for EUR 55 million (roughly Rs. 460 crore) from Manchester City and Pierre-Emerick Aubameyang got here on a free switch after having his contracted cancelled at Arsenal.

Adama Traore additionally joined on mortgage from Wolves whereas Dani Alves, who was out of contract, re-signed.

Barca have considerably improved since, with coach Xavi Hernandez overseeing one thing of a metamorphosis in performances forward of Sunday’s Clasico in opposition to Real Madrid.

Barca at the moment are third in La Liga and looking out prone to qualify for subsequent season’s Champions League, which is essential to their monetary restoration. Xavi took over in November with the group mendacity ninth.