In recent years, blockchain has become an integral part of many areas of life, and sports is no exception. Sports clubs and leagues are increasingly using blockchain technologies to solve financial and organisational issues. Among them, the cooperation of FC Barcelona with the largest European cryptocurrency exchange WhiteBIT, which has already played an essential role in supporting the Catalan club, stands out.
Financial Challenges for FC Barcelona
In particular, FC Barcelona, one of the most famous football clubs in the world, recently faced difficulties in registering a new star player. Dani Olmo, a Spanish midfielder who joined Barcelona from RB Leipzig on August 9, has yet to be registered in La Liga due to the club’s financial woes. The reason for the problems was that the Libero investment fund was unable to pay €40 million for the acquisition of a stake in Barça Vision, as previously agreed.
As a result, part of the €20 million debt was assumed by the American catering company Aramark. However, in order to finally close the financial issue and ensure Olmo’s registration before an important match against Rayo Vallecano, the club needed additional support. The Catalans had been looking for someone who could finally close this financial issue.
How WhiteBIT Supports FC Barcelona in a Tough Time
According to Mundo Deportivo, WhiteBIT is ready to take on part of the financial obligations by acquiring the audiovisual rights to Barça Vision. The club will receive an additional €20 million, which should be enough to register the Spaniard with the club for the new season. If the deal is closed, Olmo will be able to make his debut for Hans-Dieter Flick’s team on 27 August. With this strategic approach, the club is overcoming its financial problems while remaining within the regulations, ensuring effective competition in the upcoming season.
WhiteBIT became the official crypto partner of FC Barcelona back in December 2022. Since then, the company has been actively supporting the club, providing not only financial assistance but also promoting the development of new technologies in sports. WhiteBIT’s collaboration with FC Barcelona highlights a growing trend of blockchain and cryptocurrency organisations becoming sports sponsors and partners, offering more than just financial support. Their role extends to promoting technological advancements in the sports industry, influencing how sports clubs manage their finances and interact with fans.
As blockchain technology continues to evolve, its integration into sports management and operations is likely to expand. This partnership illustrates the potential of blockchain to solve complex financial problems and create new opportunities for sports organisations around the world.