A Hong Kong-based cryptocurrency exchange could be Barcelona's next sponsor

A Hong Kong-based cryptocurrency exchange could be the next sponsor of the Futbol Club Barcelona jersey. According to a report published by La Vanguardia, a newspaper published in Spanish and Catalan, the deal could be worth over 60 million euros a year, a figure that at the exchange rate amounts to over 70 million dollars. It has been speculated that the entity in question is DSDAQ, a crypto platform that is also backed by Investors of Silicon Valley.

How did this news come out?

The development in question was brought to light after Tony Freixa, one of FC Barcelona's top presidential candidates, hinted at it in a recent statement. Freixa said: “We are talking to a new partner in an advanced way, for a new possible sponsor of the jersey for the 2022/23 season who would pay 60 million euros per season, which would mean the highest sponsorship in the world of football, which together with the 250 million for 'Barça Corporate' it will mean recovering a lot of liquidity ”.

Interestingly, the deal will only be formalized if Freixa wins at the polls this Sunday, while the official sponsorship is expected to take effect starting in the 2022/23 season.

The aforementioned agreement, if it goes through, is expected to extend for five seasons. The deal will also likely play an important role in accelerating the adoption of cryptocurrency around the world, especially if Lionel Messi (the greatest soccer player in modern history) decides to extend his contract with the Catalan club.

At this point, it's also worth noting that, contrary to other sponsors on soccer jerseys, DSDAQ is negotiating to forgo display of its logo in every match played by FC Barcelona. A unique feature of this sponsorship deal is that the team will play with a “clean shirt” or no advertising on the chest of its players.

Why would this solution be adopted?

“If we talk about the possibility of the team playing without advertising on the shirt in home matches, it is because we understand the identity of Barça and we want to favor it,” commented Erik Aaron Lara, European co-CEO of DSDAQ.

Lara went on to explain that the partnership with the Barcelona team will serve as a flagship for the cryptocurrency company's operations in Europe.

“We want to expand and believe we could form a great alliance with Barça. We are able to provide many solutions, not only marketing, but also financial ”.

DSDAQ was only launched in December 2019 as part of the DraperDragon Innovation Fund III, a Silicon Valley VC associated with Tim Draper. Its main trading pair is ADA / USDT, which accounts for over $ 1,4 billion of the platform's trading volume.

In short, its growth is exponential and with the "half" appearance on the shirts of the Blaugrana team, its volume of business is certainly destined to grow. However, the Chinese company will have to cheer on Tony Freixa to join this project.