Green light from the members and partners involved in the "best agreement in the history of sportswear for a football club", according to Joan Laporta's judgement, until 2038. The Extraordinary General Assembly of FC Barcelona took place on Saturday morning, telematically, with the Blaugrana leaders located in the Auditori 1899. In total, according to the club, there were 673 users connected. The president, as well as Ferran Olivé, treasurer of the Board of Directors, made a presentation in which they explained the agreement. Before the vote, those present, both physically and telematically, had the opportunity to present their requests and questions.
"Today we are holding an Assembly where you will have the power to ratify the new strategic agreement between FC Barcelona and Nike. It is an agreement that marks a new model of strategic partnership and collaboration," Laporta began. The president stressed that this alliance is a great help to complete the club's financial recovery. He also wanted to emphasize that the agreement "establishes a progressive sponsorship compensation that will increase in the coming years", so the amount that the institution will receive will increase. "The agreement with Nike shows that Barça has returned to the world's forefront," said 'Jan'.
The contract with Nike in detail
Ferran Olivé was the next to take the microphone. He explained that, upon his arrival at the club in 2021, the Board of Directors understood that the income coming from the American multinational did not sufficiently value the Barça brand. Thus, negotiations began to renegotiate it. After many back-and-forths, even a trip to court, the parties have agreed on what, according to the treasurer, is "a contract between equals, because Barça needs Nike as Nike needs Barça."
The "love story," as Olivé defined the relationship, continues, although with some modifications. The administrator explained it this way: "It is based on valuing the Barça brand and the sponsorship assets and accelerates the development of the BLM business. This will allow the compensation of the previous contract to be doubled with an economic formula during the fourteen years of the contract." He also explained the financial improvements that the institution extracts from the agreement, such as a signing bonus, the increase in the annual amount of the sponsorship, already announced by Laporta, prizes for titles, the elimination of economic penalties for sporting performance and the revaluation of the agreement during the period of validity, something also mentioned by the president.
Finally, Ferran Olivé concluded his intervention by explaining that FC Barcelona will have the possibility of developing its own product lines that use the Barça brand and that, through BLM, it regains control of the retail and e-Commerce operations for the whole world.
Question time for members
After the presentations by the directors, the members had the opportunity to ask about their concerns. Each one questioned the issues they considered: from a request for more information, answered with the confidentiality of the contract, which made it impossible for the club to give more details; going through additional discounts; the reason for the intervention of Darren Dein, a football agent included in the negotiation and paid by both parties; the concern about the counterfeit market or the desire, coming from Joan Gaspart, that Nike not sign with a rival club and, in case the conditions agreed with Barça are exceeded, the agreement with the culé club be renegotiated.
Joan Laporta and Ferran Olivé answered each question. Regarding Darren Dein, the treasurer explained: "Both parties agreed on the issue of the mediator. Darren Dein worked with us on the agreement with Spotify and had also worked with Nike. From the start, we agreed on who would be the mediator. He managed to get an agreement, we could go to the market to look for an offer and, if we got one, Nike could match it. This is the great work of the mediator."
Regarding counterfeiting, the president assured: "We will solve the issue of fake shirts. We hope that with this new agreement, which allows us to open our own franchises. We want this not to happen again in China, which is a very important market for us."
On Gaspart's wish: "We have to thank Nike, I have also congratulated them. It is a reference company. We have to thank them because they have had the Barcelona side that surrounds all culers. Nike has understood what Barça represents in the world of sport. Some were very aware, others not so much. People from Nike took important steps, especially the president. The mediator organised a meeting with both parties to resolve the issue. His work involved the payment of certain amounts. The framework for work with Nike is the best in the world. It will never be obsolete, there will be no penalties. In 2010 I left a contract of about 40 million, I arrived in my second stage and I see that the amount I found is similar to the one I left, 43 million due to penalties. The contract with Nike will always be updated," concluded Laporta.
Voting results
After explaining that the General Assembly was called at the request of LaLiga, the president of the entity asked for a 'yes' vote: "Everything has been explained, we are in a historic moment, I ask that the contract be ratified. The best in the history of the world of football. It confirms the economic recovery of the club and helps us in financial fair play. It is another help for the interpretation of LaLiga. We continue on the path to achieve 1:1. I ask for your affirmative vote." Thus, the members gave 'Jan' his favor: 419 votes in favor, 27 against and 22 blank votes regarding the sponsorship agreement that links Barça and Nike from 2024 to 2038.