BF Barcelona is slowly but surely digging its way out of its debilitating financial crisis both on and off the pitch. Manager Xavi Hernandez is finding ways to get the positive results coming while also slashing the wage bill. On top of that, it has been reported that massive progress has been made off the pitch as well through a lucrative new sponsorship deal with streaming giant Spotify.
The club has reportedly agreed to a €280,000,000 deal with the Swedish company, but not everyone is pleased with what might happen because of it. In particular, fans are concerned about the home stadium’s naming rights, which is believed to be part of the agreement.
The Camp Nou is one of the most iconic football stadiums in the world, and its name is part of its illustrious history. With this new deal, Spanish media have been reporting that it will soon be renamed, but instead of drastically changing the name altogether, a compromise was reached and FC Barcelona will now be based in the Spotify Camp Nou.
The Spotify deal is one that will make a big impact in Joan Laporta’s mission to dig the club out of the debt he inherited from the tenure of former president Josep Maria Bartomeu. The money will also pave the way for Xavi to be able to move more freely in the transfer market, which in turn will hopefully bring better results and possibly some silverware.
If that happens, better results will mean better income opportunities. Thus, the club will be making major inroads into financial stability. The money will also help Barcelona modernise the club facilities, including the stadium itself.
According to Marca, the sponsorship money is to be paid over a span of three seasons in equal instalments. If this is true, then the Blaugrana can legitimately enter the upcoming summer transfer window with enough ammunition.
It is no secret that Borussia Dortmund striker Erling Haaland is hot property at the moment, with interest coming from nearly all of Europe’s top clubs. Barcelona will now be able to go head to head with the likes of Real Madrid and Manchester City for the Norwegian’s signature.
Apart from the stadium naming rights, the deal also means that the Spotify logo will take over from Rakuten in the coveted space in front of the players’ jerseys.
While the deal seems like a good thing overall from the outside, it has also been revealed that not everyone in the Barcelona organisation is happy. Barcelona CEO Ferran Reverter in particular, did not agree with the terms of the deal and has reportedly resigned. He is supposedly unhappy about the stadium naming rights, and many Barcelona supporters agree with him. For them, the history and prestige behind the Camp Nou name is not worth any sponsorship deal.
However, Laporta decided to make the practical decision in order to get the club quickly out of its current financial quagmire.