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America First News
20 May 2023
#sports
Forbes: FC Barcelona Secure $60 Million Sponsor To Boost New Signings: Reports
FC Barcelona has agreed to a new, five-year sponsorship deal with Philips, which is worth €56 million ($60 million) and will help them make new signings. The contract is fixed for three seasons with an option to extend for two more, and will feature Philips sponsoring the sleeve of Barcelona's first team shirt moving forward. The deal includes a range of payments, starting with €8 million ($8.7 million) in the first year, €10 million ($10.8 million) in the second, €12 million ($13 million) in the third and fourth, and €14 million ($15.1 million) in the fifth, with a potential bonus of €500,000-1 million ($540,000-1.08 million) for trophies won. The agreement is a welcome relief for the financially struggling club that needs €200 million ($216.4 million) in cost-cutting measures to register its new players.