(Bloomberg) - Spotify Technology SA, the music streaming service, has signed a historic agreement to put its name on the uniforms and stadium of FC Barcelona, one of the largest football clubs success in the world.
FC Barcelona will change the name of its stadium to Spotify Camp Nou in July under a long-term agreement that will continue through the restructuring of the facilities. The Spotify brand will appear on players' shirts for the next four years, starting with the 2022-23 season, the company said in a statement. Spotify said it will also use sponsorship to promote music artists.
For a long time, large companies have paid large sums to put their names in sports venues and thus increase their business and benefit from the positive association that fans have. with their favorite teams. Reports linked the deal to the stadium at 500 million euros (547 million dollars), one of the most expensive sponsorship deals in the world. The parties did not disclose the terms.
Barcelona needs all the financial help it can get. Although it is one of the most decorated football clubs in the world, it lost 481 million euros last year. On Spotify, find a business run by a football fan. Spotify co-founder and CEO Daniel Ek expressed an interest in buying FC Arsenal, one of the best teams
inthe UK. Barcelona started advertising their jerseys in 2006, decades after most other clubs. And the first one she carried in her lap was UNICEF, free of charge, to point out that she was doing it for a noble cause and not for money.
Original note:
Spotify signs to sponsor FC Barcelona stadium jerseys
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