FC Barcelona Under Fire for Sponsorship with Obscure Crypto Company

FC Barcelona is facing significant criticism after announcing a three-year sponsorship deal with Zero-Knowledge Proof (ZKP), a relatively unknown blockchain startup based in Samoa. When the partnership was revealed, ZKP had only a handful of followers on social media.

Key Takeaways

FC Barcelona has entered a controversial three-year sponsorship with ZKP, a little-known blockchain startup.
Critics are concerned about the lack of transparency and the potential financial risks for fans.
Financial difficulties are adding pressure on Barcelona, exacerbated by past financial mismanagement.
The partnership with ZKP highlights ongoing challenges in the rapidly evolving landscape of cryptocurrency sponsorships in sports.

FC Barcelona Under Fire for Sponsorship with Obscure Crypto Company

According to reports from the Financial Times, this collaboration has triggered concerns that the club is desperately seeking new revenue streams while potentially putting its fans at financial risk via a company lacking transparency about its operations and leadership.

On November 15, the Catalan football club made the deal public, naming ZKP as its official blockchain technology partner. This decision is particularly striking considering ZKP’s minimal online presence and its registration in a jurisdiction deemed a tax haven by the European Union.

Critics raised alarms over troubling ties, including promotions by controversial influencer Andrew Tate, who began endorsing zero-knowledge proof systems just hours after the announcement. A video featuring ZKP’s logo was subsequently shared on the company's Telegram channel.

Concerns about Transparency and Leadership

ZKP made its debut on social media with a single post on X, where it had only 33 followers and was exclusively following FC Barcelona, Bitcoin, and Andrew Tate.

On November 21, ZKP hosted its inaugural auction for 200 million coins. Although the company’s website states a commitment to transparency, it lacks essential information about its leadership and the identity of those who purportedly provided the claimed $100 million in financing.

“Everyone asks, ‘Who’s behind this?’ As if knowing the names would make the code stronger. It won’t. We’re real—engineers, cryptographers, ex-founders, system killers. But we’re not playing the PR game,” the website claims.

Martin Calladine, the author of No Questions Asked: How Football Joined the Crypto Con, called the lack of information “deeply concerning,” warning that Barcelona fans might be enticed to purchase coins “that could easily end up being worthless.”

Xavier Vilajoana, a former board director at Barcelona, expressed his worry regarding the club's due diligence before entering into this agreement. He stated, “It is incredibly concerning that Barca’s leadership would choose to associate the club with a company whose background raises so many red flags,” noting that partnering with a secretive crypto startup signals “desperation” at a financially troubled organization.

On November 26, Barcelona released a statement distancing itself from ZKP’s newly launched FCB token, stating that the club has “no connection whatsoever” to it.

Financial Challenges Intensify

The sponsorship with ZKP comes at a time when Barcelona is struggling with substantial financial issues, largely stemming from a poorly planned spree of player acquisitions between 2017 and 2019.

The club has faced multiple sanctions for breaching Spain's spending limits, and recent accounts reveal a staggering net debt of €469 million, alongside over €900 million in stadium-related loans.

To address its financial woes, the club has attempted asset sales, including a portion of its long-term television revenue. However, slow progress on stadium renovations has heightened the urgency for income generation.

Barcelona’s other Web3 efforts have also stalled. For instance, last year, the club reported a €141 million loss following a failed sale of a stake in Barça Vision due to investors not meeting their obligations.

Despite these setbacks, Barcelona continues to pursue digital asset initiatives, having sold its first NFT for $693,000 at Sotheby’s in July 2022, and launching FC Barcelona Fan Tokens with Chiliz and Socios in June 2020, which sold out for $1.3 million in under two hours.

A Growing Trend in Sports Sponsorship

In recent years, numerous crypto firms have rushed to sponsor football clubs, though many partnerships have ended abruptly. Teams such as Inter Milan, Roma, Chelsea, and Atlético Madrid have experienced early terminations of their agreements.

Despite these cautionary tales, the trend shows no signs of slowing down. For example, Paris Saint-Germain announced in May 2025 that it became the first sports entity to implement a Bitcoin treasury strategy.

A recent study by Sport Quake revealed that football represented 43% of all crypto and digital asset sponsorships during the 2024/25 season, reflecting a 64% increase from the previous year.

Notable recent collaborations include Kadena’s four-year deal with the Croatian Football Federation in February and Tether's acquisition of a minority interest in Juventus FC.

However, Barcelona's partnership with ZKP is particularly notable for the opacity surrounding the company and the rapid emergence of red flags.