FC Barcelona has agreed a new five-year sponsorship deal worth €56 million ($60 million) according to Sports world and will help them make much-needed new signings.

The agreement was made by the Catalans and the Dutch electronic giant Philips
PHG
who will sponsor the first team shirt sleeve going forward.

Philips registered its interest in sponsoring the newly crowned La Liga champions four months ago and has been in talks with vice president of marketing Julio Guia plus brand director Sergio Ricarto.

According to MDthe two sides have now signed a contract which is fixed for three seasons and has a clause whereby two more terms can be taken if desired.

The reason the last two years are not guaranteed is that there could be another president if incumbent Joan Laporta is not re-elected.

Barca and Philips will have to agree to continue for another two years, but the Blaugrana will be happy to land a sponsor for any period given that the sleeve has been unused since Beck’s deal expired in 2021.

The deal was worth 19 million euros ($20.5 million), but also included the company’s name appearing on training clothes.

If Sports worldThe numbers are correct, however, Barca can do a lot more in their arrangement with Philips.

They will reportedly be paid 8 million euros ($8.7 million) in the first year before 10 million euros ($10.8 million) in the second. In the third and fourth years, Barca has 12 million euros ($13 million) ahead of 14 million euros ($15.1 million) in the fifth.

Moreover, Barca can be paid 500,000-1 million euros ($540,000-1.08 million) in variables for trophies won in many of these years, and Philips will also provide new televisions for the renovated Camp Nou worth 4 million euros (4 .3 million dollars).

News of the deal is welcome at a time when Barca need to shed 200 million euros ($216.4 million) in wages to balance Financial Fair Play limits.

Already this year, €8 million will significantly help the club sign new players such as Lionel Messi and register new contracts for existing stars, including Gavi and Ronaldo Araujo.