February 17 – Barcelona and Beko have extended their partnership by a year, but the parties have dropped the sleeve sponsorship rights in a re-worked sponsorship agreement.
The new deal will reportedly see the Turkish electronics brand pay €10 million to continue as Barcelona’s training partner, which is almost 50% down from the €19 million Beko paid under the previous sponsorship terms. Beko drop the sleeve sponsorship position at the end of the current season. As part of the new deal, Beko announced Gerard Pique as a global ambassador.
Beko has been a Barcelona sponsor since 2014 and the Turks had the intention of maintaining their strong relationship with the Catalan club, but the pandemic has forced a rethink.
Alongside sportswear giant Nike and Japanese e-commerce behemoth Rakuten, Beko is one of Barcelona’s three main sponsors. Local media report that Rakuten has also negotiated a reduced shirt sponsorship deal.
The drop in commercial revenue will be another financial setback for Barcelona, whose finances suggest they are flirting with bankruptcy with debts in excess of €1 billion.
Barcelona’s fortunes on the pitch have also a taken a turn for the worse after they were humiliated by Kylan Mbappe and Paris Saint-Germain on Tuesday in the first leg of their round-of-sixteen Champions League tie, losing 3-1 at home.
Contact the writer of this story, Samindra Kunti, at moc.l1735001444labto1735001444ofdlr1735001444owedi1735001444sni@o1735001444fni1735001444