Messi To Be Partially Paid In Crypto
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.
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.
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.