PSG Signs Five-Year Deal With Cryptocurrency Firm Socios.com
Paris St. Germain signed an agreement with cryptocurrency platform Socios.com, according to Yves Leroy of LE PARISIEN. The sponsorship contract is for five years and worth a reported €2M ($2.3M) per season. The partnership will eventually allow fans to participate in club activations through the purchase of digital tokens. The deal includes branding at the Parc des Princes and on the club's digital platforms. PSG said in a statement, “Socios.com will work with the club to develop its first coin offer for the fans.” These “coins” will give fans “diverse benefits” and voting rights for polls conducted by the club. The more coins a fan buys, "the more benefits and voting rights they will receive." The two parties will work on development for “about a year before making the coins available.” Many details are still to be defined, “including the selling price and how the polls will function.” The club will start with two potential projects: “the choice of the colors for an alternative club jersey and the location of a friendly match” (LE PARISIEN, 9/11). FINANCE MAGNATES' David Kimberley reported the "best analogy to draw" is with Barcelona and Real Madrid, both of which are, "to some degree," fan-owned. Both teams have tens of thousands of "socios" -- "members" -- that vote on decisions the clubs make. What voting rights PSG's fans will actually get from the system "is unclear" (FINANCE MAGNATES, 9/11).