Lionel Messi Contract: Football Legend To Be Partially Paid In Crypto By PSG
Lionel Messi will receive part of his salary in cryptocurrency after signing a two-year deal worth $41 million a year with the Paris Saint-German Football Club. The contract carries a third-year option and also features a $30 million signing bonus and other incentives.
The Barcelona legend will also receive a “significant” welcome package in cryptocurrency fan tokens called "$PSG." Fan tokens allow holders to vote on minor decisions related to their favorite teams. The $PSG tokens were created in January 2020 to build a new fan community.
Barça president Laporta: “We’ve shaken our hands with Leo Messi. The new contract was DONE. Two years salary but paid until 2026.
— Fabrizio Romano (@FabrizioRomano) August 6, 2021
It was 100% AGREED, we had to SIGN yesterday. But then La Liga rules and reality came, I told to Jorge Messi yesterday... a cold shower”. ___ #Messi pic.twitter.com/GboJGBacBs
Marc Armstrong, chief partnerships officer at PSG says the new cryptocurrency will allow the club to engage with a global audience and create significant digital revenue for the team.
Lionel Messi’s two-year contract with PSG, the French soccer club bankrolled by the state of Qatar, includes a third option year, according to a team official. It will pay him about $41 million a season — much less than he earned at Barcelona. https://t.co/rjbzXsXa7U pic.twitter.com/GqHch0ORYm
— The New York Times (@nytimes) August 10, 2021
Lionel Messi has agreed a contract to join PSG...
— 90min (@90min_Football) August 10, 2021
What a welcome he's set to receive from his new team-mate! _ pic.twitter.com/1MSI5g6BWf
Cryptocurrency has been known to be incredibly volatile due to its unregulated nature and the value of cryptocurrency could either plummet or soar overnight. Cryptocurrency has drawn a lot of criticism from government officials as they seek the regulate the growing market.
The 34-year-old left Barcelona after the club could no longer afford him despite Messi's willingness to cut 50% of his salary. The club was carrying a heavy amount of debt and Messi’s contract would have meant player salaries accounted for 110% of their revenue and league rules dictate that figure to be at 70%.
Messi had the most lucrative deal in sports history. The deal he signed in 2017 was worth over $650 million over 4 years if various conditions were met. Messi’s annual base salary was $161 million with a $135 million signing bonus, and a $91 million-plus loyalty payment.
Messi is one of the game's all-time greats, winning numerous player of the year awards. In 2020, he was named to the Ballon d’Or Dream Team and has won a club-record 35 trophies with Barcelona including 10 La Liga titles, seven Copa Del Rey titles, and four UEFA champions leagues, while recording 474 career goals and 193 assists.
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