FC Barcelona have announced that they have reached an sponsorship agreement with the Qatar Foundation worth €170 million over five years and will carry their name on the football first team's shirts.
Blaugrana vice-president Javier Faus explained that the club will receive €30m each season for years, starting on July 1, 2011 running until June 30, 2016, plus bonuses for trophies won that could total €5m. During the 2010/11 campaign the club will also receive a further €15m for the concept of commercial rights, bringing the total of the deal to €170m.
Qatar and Unicef
Qatar Foundation will join Unicef on the Barça's team's shirts as part of the agreement and over the next month the new look logo will be designed and presented. Nike will then be able to include the design on the front of the kit for next season.
The Barça first team will also play a friendly match, which will not necessarily take place in Qatar and the Qatar Foundation will also help in projects alongside Unicef and the Fundació Barça.
The deal with the Qatar Foundation was reached without any commission being paid or any involvement to intermediaries representing the club and was ratified unanimously by the board of directors at an extraordinary meeting on Thursday.
Faus explained that on a legal level the agreement does not need the ratification of the general assembly because since 2003 the possibility of FC Barcelona carrying publicity on their shirts has been agreed. Nevertheless, he did open the door for the matter to be discussed in future assemblies.
Thanks to davidecit and Andrew