Arsenal is to miss out on a £236M transfer windfall as Daniel EK makes Barcelona decision, according to sources, since Barcelona has signed a sponsorship agreement with Spotify that was first offered to the Gunners.
According to The Mirror, Spotify co-founder and Arsenal supporter Daniel Ek first offered to buy the stadium’s naming rights before pressing for a prospective takeover.
However, nothing of these plans came to reality for Ek, with the Kronkes standing hard on both fronts to retain their full ownership of the club.
As a result, it appears that the music streaming service is looking for sponsorship opportunities in football elsewhere.
Barcelona is preparing to announce an agreement with Spotify that will see the Nou Camp’s name rights modified to include Spotify in the title.
The agreement comes at a moment of uncertainty for the Blaugrana, who have recently faced financial difficulties.
The La Liga club has been unable to extend the contracts of stars like as Lionel Messi, while also selling Antoine Griezmann and Philippe Coutinho.
Under new manager and former midfielder Xavi, the team has begun to rebuild, although it is still based on cheaper deals and other players departing.
The arrangement with Spotify, on the other hand, is reported to be worth £236 million to the club and will help the club eliminate debt while also freeing up transfer cash for the Spaniard in the summer.
It’s a bit of a letdown for the Gunners, as they might have benefited from the extra cash at a time when the club is trying to invest for the future in the transfer market.
However, the approach from Spotify may have been faulty from the start, as Emirates now owns the name rights to the stadium until 2028, after a sponsorship agreement in 2012.
The signing of Ek may have offered Arsenal additional financial power in the transfer market, but now that he’s gone, it appears that Barcelona will gain from Spotify’s foray into football.
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