The members have unanimously accepted the shirt sponsorship deal with Qatar Sports Investment that will bring in 171 million euros over five years.
Result of voting
For: 697
Against: 76
Abstentions: 36
The first of three major issues to be put to the Assembly today was the sponsorship deal with the
company Qatar Sports Investment (QSI). Economic vice president, Javier Faus explained the details
of the deal to promote the Qatar Foundation, which is responsible for social, education and
scientific projects and whose name appears on the first team football shirt.
Reversible contract
The vice president told the members that the Board felt it had no choice but to
accept shirt sponsorship because “it has a substantial economic impact”. Faus also said
that the agreement is specifically reversible, in order for “future Boards to be able to
change the decision … We wanted to solve financial questions but didn’t want the
agreement to be irreversible”, who added that the deal with Qatar Sport Investment will end
at when the current Board’s mandate comes to an end.
Seven non-negotiable conditions
The Board of Directors had placed seven non-negotiable conditions on
any such deal: it had to be compatible with Barça’s values, compatible with Unicef, to be the
highest shirt sponsorship deal in the world, to be absolutely solvent in the form of a bank
guarantee, had to be closed immediately and there had to be a relevant payment in the 2010/11
season, which was 15 million euros, and it had to be for five years. The deal also had to stipulate
that from the third year, FC Barcelona would be able to decide whether to continue wearing the
Qatar Foundation name or switch to another.
171 million euros in income
Faus explained that the agreement supposes income over five years of 171 million
euros distributed as 15 million euros (2010/11), 26 million (2011/12), 29 million (2012/13), 30.5
million (2013/14), 32 million (2014/15) and 33.5 million (2015/16), plus 5 and a half million more
if Barça win the Champions League during this period.