FC Barcelona Receives Cash Injection for Web3 Efforts
- Barcelona is one of the many clubs that have made investments in Web3.
- Barca will leverage its Web3 efforts to improve relationships with its fans and raise more funds.
Football club Barcelona has received a 120 million euro ($132 million) investment from Libero Football Finance AG and Nipa Capital B.V. to fund Barca Vision, its Web3 agenda. The Spanish giant shared the news on Friday, August 11, noting that it sold a 29.5% stake in Bridgeburg Invest, the holding company for Barça Vision in exchange for the capital.
The new cash injection will enable Barcelona to buy and register players without violating financial fair play rules. Barcelona, in its statement, noted that “Barça Vision is the Club’s initiative to integrate all digital content around Web3 and blockchain, including NFTs and the metaverse, which are part of the Club’s strategy to build the digital Espai Barça.”
The football club wrote in a blog post,
With this transaction, FC Barcelona succeeds in strengthening Barcas Vision alongside strategic partners who provide knowledge and experience to foster business opportunities in the digital world of sports and entertainment.
Libero is a publicly traded German company that specializes “in holistically supporting football clubs in all matters of financing and profitability.” It also provides “fully comprehensive advisory services around all economic matters for professional football clubs”.
The Netherlands-based investment company, Nipa, provides a “unique and innovative vision to accelerate the company’s growth.” The deal with Barcelona is likely to be finalized later this year and is subject to Barcelona shareholders’ approval.
Barca’s President Joan Laporta noted that the club has made “considerable progress in the digital ecosystem, turning our assets into a creative hub that boosts FC Barcelona’s brand to unique levels in the world.” Laporta added that Barca’s Web3 initiatives not only provide it with extra sources of income but also connect it with fans.
Laporta added in a statement:
This step we are taking now is a strategic move that provides us with new resources to continue growing at a time when the demand for digital sports content is clearly expanding, reinforcing the path of digital transformation that started in 2022.
In addition, Barca stated that strategic partners Socios.com and Orpheus, who last year acquired 24.5% stakes in Barca Studios, will continue to play a significant role in its Web3 strategy, deploying their technical expertise and structures to create exciting new possibilities across different platforms.
Barca has been involved in Web3 over the past two years. The Spanish club has been working with the Chiliz blockchain since February 2020 to develop FC Barcelona Fan Tokens (BAR) for its sporting franchise. With the new Spanish season set to begin, Barcelona fans will be excited to see the club receive a fresh cash injection and boost their chances of success.
Lawrence has covered some exciting stories in his career as a journalist, he finds blockchain-related stories very intriguing. He believes Web3 will change the world and wants everyone to be a part of it.
