Lionel Messi’s PSG contract reportedly includes payment in crypto

Paris Saint-Germain allegedly paid a certain percentage of Leo Messi's welcome package in its own fan token $PSG

Football star Lionel Messi has reportedly received a portion of Paris Saint-Germain (PSG) fan tokens, $PSG, as a part of his signing on bonus following his departure from Barcelona.

The 34-year-old Argentine signed a two-year contract with Paris Saint-Germain (PSG) this week, with an option to extend for a third year. His exit was done after Spanish La Liga’s financial fair play rules made it fiscally impossible for Barcelona to continue to afford the star player.

Commonly regarded as the wealthiest team in world football, Paris Saint-Germain decided to use this to its advantage by offering a 2+1 contract to the six-time Ballon D’Or winner.

According to Reuters, Messi agreed to receive a piece of the “welcome package” (the signing on fee) in the team’s cryptocurrency fan token – $PSG. The payment was made by the token provider – Socios.com.

The club didn’t want to reveal an exact amount Messi got via the $PSG token but confirmed it was a “large number.” Messi will reportedly have an annual salary of $41 million (plus bonuses) together with a $30-million signing bonus at PSG.

$PSG on the rise

Blockchain company Chiliz, which operates the sports token platform Socios on which $PSG fan tokens are issued, has disclosed that $PSG trading volumes rose to more than $1.2 billion in the days preceding the player’s move.

Through the partnership with Socios, PSG has been dealing with crypto since 2018, and FC Barcelona became its partner together with other international, high-profile clubs that include Atlético de Madrid, Juventus and Manchester City.

PSG president Nasser Al-Khelaifi stated that should the precise figures for the deal be made public, people would be “shocked, honestly, at the numbers we have.”

“The hype surrounding the latest signings in the club’s busy summer transfer window created a huge surge of interest in $PSG Fan Tokens, with trading volumes exceeding $1.2 billion in the days preceding the move,” the club stated.

Flash sales for fan tokens have been especially profitable for clubs during the pandemic-induced lockdowns last year. In that way, clubs got the possibility to communicate with fans and boost their revenues and profits.

Marc Armstrong, chief partnerships officer of Paris Saint-Germain said that “embracing Socios.com and $PSG Fan Tokens has proved a massive success for the Club.”

“We have been able to engage with a new global audience, creating a significant digital revenue stream,” he noted.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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