Lionel Messi signed a two-year deal with Paris Saint-Germain on Tuesday, and a portion of his contract is being paid in cryptocurrency fan tokens, according to the French soccer club.
The two-year, $41 million deal for the international superstar includes bonuses, a third-year option, and a reported $30 million signing-on fee.
Messi’s “welcome package” also included “$PSG Fan Tokens.” PSG did not disclose how many tokens Messi received, but said the amount was “significant,” per Reuters. Tokens allow holders to vote on decisions related to soccer clubs and have become a new source of revenue.
Fan tokens have generated nearly $200 million in revenue for partner clubs in 2021, according to Socios.com.
Messi joins several athletes who are getting paid in some form with crypto.
- Tom Brady struck a partnership with FTX in exchange for an equity stake and an unspecified amount of cryptocurrency.
- Top NFL pick Trevor Lawrence agreed to a multiyear sponsorship deal with Blockfolio. The Jacksonville Jaguars QB received his signing bonus in Bitcoin, Ethereum, and Solana.
PSG’s fan token soared over 130% in just five days following speculation of Messi’s arrival to the club. The token has a market capitalization of roughly $52 million and closed at an all-time high of $60 on Tuesday.