FC Barcelona Won’t Suspend the 1xBet Sponsorship

FC Barcelona Won’t Suspend the 1xBet Sponsorship

Published: March 19, 2022

FC Barcelona is not planning to axe its sponsorship agreement with 1xBet, despite the sports betting platform being tied to Russia.

Following the Russian invasion of Ukraine, many sports teams and real money casinos suspended their deals with Russian companies. Some, like the UK soccer giant Chelsea, were sanctioned for being owned by Russian oligarchs.

However, FC Barcelona doesn’t intend to do the same. According to available information, the Spanish club plans to stick to the current sponsorship deal with 1xBet, primarily due to its own dire financial situation.

The economic moment at Barça is the worst in the club’s history, so breaking the agreement could be very costly.

1xBet is the entity’s one of the most important sponsors, with the current deal being worth over $12 million. The agreement ends in 2024.

FC Barcelona’s president, Joan Laporta, has decided to continue with the 1xBet deal. The main reasons for it are balancing the accounts and avoiding more significant financial problems.

Although in serious disarray over the last couple of years, FC Barcelona has managed to establish a positive net profit. The club is also working on its non-fungible token (NFT).

In addition to Spotify, FC Barcelona has a total of 29 sponsorship contracts. Two of these, with Beko and Rakuten, will expire in summer.

Barça justified the decision to keep the 1xBet contract by stating the sports betting platform is headquartered in Cyprus.

About 1xBet

Founded in 2007, 1xBet is an online casino licensed in Curaçao. In 2019, the platform signed sponsorship deals with Chelsea and Liverpool, experiencing significant growth.

2014 was a milestone for the gambling company, as it expanded its online footprint by joining forces with BookmakerPub. Presently, 1xBet operates in Malta, Cyprus and Abuja (Nigeria).

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