Home Business Lionel Messi is being partly paid in crypto by PSG

Lionel Messi is being partly paid in crypto by PSG

3 min read

Lionel Messi arrives on the pitch after holding a press conference announcing his signing with French soccer club Paris Saint-Germain in Paris on August 11, 2021.

Alaattin Dogru | Anadolu Agency | Getty Images

Lionel Messi’s financial package at French soccer club Paris Saint-Germain includes crypto tokens.

Messi signed a two-year deal with PSG this week, with an option for a third, that will net him an annual salary of $41 million plus bonuses, and a reported $30 million signing-on fee.

PSG said Thursday that Messi’s “welcome package” includes the cryptocurrency “$PSG Fan Tokens.”

The development has triggered a rally in the crypto tokens that PSG first issued to its fans over a year ago. The $PSG token, created in Jan. 2020 with crypto platform Socios.com, was designed to help PSG build a new fan community.

PSG claimed the move to pay Messi in crypto positions it as one of the “most innovative and avant-garde brands in sport globally.”

Marc Armstrong, chief partnerships officer of PSG, said in a statement that embracing Socios.com and $PSG Fan Tokens has enabled the club to engage with a new global audience and create a significant digital revenue stream.

England’s Manchester City launched its own fan token in March using the same technology.

“Fan Tokens and Socios.com play an increasingly prominent role across sport at the very highest level,” said Alexandre Dreyfus, CEO of Socios.com, in a statement.

PSG President Nasser Al-Khelaifi told reporters on Wednesday that the world will be “shocked” by the financial revenues generated by the club’s signing of the global soccer superstar.

The signing is expected to bring a windfall of commercial revenues, through such avenues as jersey sales. When Cristiano Ronaldo signed for Italian giants Juventus in 2018, more than $60 million worth of his shirts were sold in just 24 hours.

Messi joined PSG as a free agent after Barcelona acknowledged they could no longer afford the elite player.

— CNBC’s Elliot Smith contributed to this report.

Source link

Load More Related Articles
Load More By The Texas Chronicle
Load More In Business

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Pfizer says booster provides protection against omicron in initial lab study

A vaccinator draws a Pfizer-BioNTech coronavirus disease (COVID-19) pediatric vaccine in L…