Lionel Messi's contract with Paris Saint-German apparently includes payment in cryptocurrency! It's in the form of the $PSG Fan Token, with the price of the said crypto coin shooting up to double its value in less than a day.
After his five-year contract with Barcelona ended and failing to reach a new deal due to the club's financial issues, Messi moved out from the Spanish team and into the French giants PSG. He signed a two-year contract (with an option for a third year) which would pay him an annual salary of $41 million. Additionally, Messi received a $30 million signing-on fee and other bonuses.
However, the most notable payment Messi received was the cryptocurrency $PSG Fan Tokens. The proportion of crypto coins was not disclosed, but it is predicted to be in a significant number, per CNBC.
$PSG Fan Token Origin and Price
The PSG crypto coin was first issued in January 2020. It was created through the crypto platform Socios.com and was designed for the PSG fan community. Executives from the club reportedly sees the $PSG Fan Token as a new mode to engage with a different global audience. It also helped the club create a significant and profitable digital revenue stream.
In highlight, $PSG crypto had a value of around $20-$21 in the last few months. However, hours after Messi received his first crypto pay, $PSG spiked to over $55. User Horcrux tweeted, "That's $PSG crypto coin, more than doubled since Messi was linked to the club!!!"
In theory, the value might continue to rally up, especially since athletes have a lot of media coverage and are considered some of the best influencers out there. After all, often get a lot of money through commercial revenues like jersey sales. This is evident with Cristiano Ronaldo, who earned over $60 million for his shirts. Earlier reports also shared how an NFT clip of NBA star LeBron James got sold for over $100,000 in crypto.
Moreover, it is worth noting that PSG President Nasser Al-Khelaifi made some bold claims about the potential increase in revenue in all areas after they signed Messi, noting: "the world will be shocked by the financial revenues generated by the club's signing of the global soccer superstar," per CNBC.
Lionel Messi Contract With PSG
Lionel Messi is an iconic figure in the sports world, having contributed 672 goals in all competitions and winning 34 trophies. The 34-year-old Argentine still has a lot to show in these coming years. However, after a long two decades, he would be wearing the PSG Jersey.
Messi was seen having mixed feelings as he bid farewell to Barcelona on Monday. He also told the press conference that his past week was an "emotional roller coaster."
Nonetheless, Messi is entering a new phase in his sports career as an official member of PSG.
YouTuber TKHD posted a quick video of Messi on his first day in Paris. This video also went over his departure from Barcelona and arrival to Paris. Fans are visibly excited as they greeted him outside the airport. The video concluded with Messi wearing a PSG jersey on the field.
Fans can look forward to more exciting news on Messi and PSG later this year.