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Spanish soccer titans Barcelona have closed a sleeve sponsorship deal with technology giant Phillips, according to Mundo Deportivo.
Contract:
- Three-year deal reportedly worth €30 million (US$32.45 million) has been agreed
- Agreement said to include option to extend the sponsorship for two more seasons, which would net Barcelona a further €26 million (US$28.1 million)
- Dutch company also would pay club bonuses worth between €500,000 (US$541,032) and €1 million (US$1.08 million) should it win trophies during the sponsorship period
- Phillips to also supply TV monitors for the Camp Nou stadium
Context:
The club has gone without a sleeve sponsor for the past two years, with previous sleeve sponsor Beko not renewing an agreement that was reportedly worth €19 million (US$20.5 million) per year. Meanwhile, the club’s women’s team has a sleeve sponsorship deal with Mexico-based food production giant Grupo Bimbo, which is reportedly worth €3.5 million (US$3.78 million).
Coming next:
Barcelona reportedly are seeking approval from LaLiga for an economic viability plan they submitted earlier this month, with the Phillips sleeve sponsorship likely to be a key revenue source helping to ease the stress on their coffers.
