Messi Welcome Pack to PSG Includes Cryptocurrency Fan Tokens | world News

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Lionel Messi’s contract at Paris Saint-Germain includes some cryptocurrency for fans of the French club.

The 34-year-old Argentine left Barcelona due to “financial obstacles” and signed a two-year contract with Qatar-owned Paris Saint-Germain on Tuesday.

His contract includes an option for a third year as well as crypto tokens in his ‘welcome package’, valued at €25-30m (£21-25m).

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Messi greets ecstatic Paris Saint-Germain fans

PSG confirmed to Reuters that the assets are included in Messi’s contract, and while it did not disclose the percentage of tokens in the package, it said the amount was “significant”.

The club said there was a huge trading volume in fan tokens after reports of Messi’s willingness to join the club.

Turnover exceeded $1.2 billion (£867 million) in the days leading up to his arrival, and the club’s chief partnerships officer, Mark Armstrong, said: “We were able to engage with a new global audience, generating a significant digital revenue stream.”

Messi joined the French giants after nearly a week of speculation about his next club.

What are fan codes?

Fan tokens have become a popular source of income for many big clubs in recent years, with Barcelona, ​​Manchester City and Italian side AC Milan launching tokens in the past two years.

It is a type of cryptocurrency that allows its holders to vote on mostly simple decisions related to their club.

Socios.com provides tokens for PSG and other clubs. It says fan codes have made nearly $200 million for partner clubs this year alone.

Like bitcoin and other digital currencies, fan tokens can be traded on exchanges but are subject to extreme price swings, which leads regulators to issue warnings to investors about digital assets.

It wasn’t just football clubs that supported crypto assets with Tesla president Elon Musk, Twitter founder Jack Dorsey and rapper Jay-Z among those showing support for bitcoin.

The six-time Ballon d’Or winner was expected to extend his 21-year stay at Barcelona and agreed to a 50% salary cut in a new deal.

But the Spanish club announced last week that it was unable to move forward due to “financial obstacles” and Messi was available on a free transfer.

He officially signed to PSG on Tuesday, in a deal said to be worth £25m a year after tax.

Messi will now be linked to former Barcelona teammate Neymar, as well as French superstar Kylian Mbappe, fellow Argentine Angel Di Maria and former Real Madrid captain Sergio Ramos – who joined Paris Saint-Germain on a free transfer earlier this summer.

The football star joined Barcelona La Masia youth academy from his childhood club in Argentina, Newell’s Old Boys, at the age of 13 he made 520 appearances and scored 474 goals.

He was part of a Barcelona squad that won 35 titles, including four Champions League titles and 10 La Liga titles, and was named club captain in 2018 after Spanish midfielder Andreas Iniesta joined Japanese side Vissel Gobi.

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