Spotify will become Barcelona's main sponsor this summer, the club announced Tuesday, in a deal that includes the naming rights to Camp Nou for the first time.
The agreement will see Barca's men's and women's teams bear the music streaming service's logo for the next four years, as well as naming the club's iconic 100,000 capacity stadium.
Neither Barcelona nor Spotify confirmed the financial details of the deal, but sources previously told ESPN that it would be worth €280 million ($307m). Barcelona's existing shirt sponsorship deal with the Japanese e-commerce firm Rakuten is due to expire this summer.
That partnership was agreed to in 2017, initially for a four-year term worth up to €60 million a season, and extended for an extra year under new reduced terms last year due to the impact of the coronavirus pandemic.
Barca's board, led by president Joan Laporta, have been looking to improve the club's financial situation and deal with its €1.35 billion debt.
"We are very proud to announce a pioneering alliance like this with a world-renowned organization like Spotify," Laporta said in a statement.
"This partnership will allow us to continue to bring the club closer to its fans and make them feel, even more, part of the Barca family through unique experiences, combining two activities such as entertainment and football, making it possible for us to connect with new audiences around the world."
Laporta confirmed last December that the club were open to selling the historic venue's naming rights to help fund its much-needed €1.5bn redevelopment.
Barcelona announced the resignation of chief executive officer Ferran Reverter last month, with sources telling ESPN that his opposition to the Spotify deal was the latest in a series of disagreements with Laporta since joining the club last July.
Spotify is facing controversy over its hosting of the comedian Joe Rogan's podcast, which has millions of listeners but has drawn criticism for its content including coverage of coronavirus vaccines.
No comments:
Post a Comment