Barcelona — One of many world’s most storied soccer golf equipment is making an attempt to reassure supporters after a sponsorship take care of an obscure crypto agency triggered widespread concern throughout the fan base.
Weeks after FC Barcelona introduced a three-year partnership with Zero Data Proof (ZKP), a little-known digital asset firm, the sponsor revealed a cryptocurrency linked to its model. The transfer ignited fears that Barcelona’s world following might interpret the partnership as an endorsement — or worse, an invite — to speculate.
In a fastidiously worded assertion revealed on its web site, the membership sought to distance itself from the brand new token and the expertise underpinning it.
“The membership has no duty for, or involvement in, the issuance or administration of this token,” Barcelona mentioned. “Nor does it use the related expertise.”
The clarification marks a notable retreat for a membership desirous to stabilise its funds after years of high-profile debt and monetary turbulence. Whereas soccer groups have grown more and more comfy partnering with unconventional sponsors — Arsenal added Persil as its “material care companion” and Manchester Metropolis embraced Kellogg’s as its “breakfast cereal companion” in 2023 — crypto sponsorships stay fraught territory.
A Associate Shrouded in Anonymity
Little concrete data exists about ZKP. The corporate, which earlier this month signed an identical take care of Australia’s Dolphins rugby league group, describes itself because the work of a “pseudonymous collective” unfold throughout a number of jurisdictions. It doesn’t establish its founders or operators, a degree of opacity that has raised eyebrows amongst analysts.
In accordance with Monetary Instances reporting, a previous model of ZKP’s phrases of service listed an workplace deal with in Apia, the capital of Samoa — a element later eliminated.
Even the agency’s identify invitations confusion. “Zero-knowledge proof” is a well-established cryptographic methodology designed to reinforce privateness in blockchain methods. Whether or not the corporate’s merchandise meaningfully use the expertise stays unclear.
Consultants Warn of ‘Substantial Threat’ to Followers
Crypto specialists say the Barcelona deal could unintentionally lend an air of legitimacy to an enterprise shrouded in thriller.
“The Barcelona model provides monumental visibility to crypto companies like ZKP,” mentioned Carol Alexander, a professor on the College of Sussex. “However there may be substantial danger for supporters who purchase the tokens. Sponsorship creates an aura of credibility, even when the underlying undertaking is opaque.”
Followers, she added, must be “very cautious” earlier than buying any digital token.
“Earlier than shopping for, they need to ask who controls it, the place the documentation is, and what recourse they’ve if it fails. With ZKP, none of these solutions are clear.”
A Membership Below Monetary Stress
Barcelona has spent the previous a number of years navigating what monetary analysts describe as a precarious fiscal surroundings.
“Latest years have been perilous,” mentioned Kieran Maguire, a soccer finance knowledgeable. “The membership seems to have adopted a method of ‘financial institution the cash first, ask questions later.’”
Partnerships with crypto companies, he mentioned, assist these companies “search legitimacy and normalisation” from buyers who may in any other case be hesitant.
Political Undercurrents and Public Questions
The controversy has spilled into inner membership politics.
Xavier Vilajoana, a former Barcelona youth participant and reported presidential hopeful, publicly urged the membership to make clear how the settlement with ZKP was permitted. He famous that ZKP follows simply three accounts on X — one belonging to Andrew Tate, the self-described misogynist and influencer whose views have drawn worldwide criticism.
The membership has not responded to requests for remark from the BBC.
For now, Barcelona’s assertion seems designed to attract a line between the group and its sponsor’s extra speculative ventures. Whether or not that may fulfill cautious supporters — or quiet rising criticism — stays to be seen.
