In a surprising move, FC Barcelona has publicly distanced itself from a cryptocurrency launched by its new sponsorship partner, Zero Knowledge Proof (ZKP). The football club, which has a storied history and substantial global following, announced that it has “no connection whatsoever” with the digital asset following backlash from concerned fans.
Despite being well-known for entering unique sponsorship arrangements — such as Arsenal’s partnership with a fabric care brand and Manchester City’s collaboration with a breakfast cereal manufacturer — this recent alliance has raised eyebrows. ZKP signed a three-year deal with Barcelona in mid-November and subsequently launched a cryptocurrency, igniting fears that fans might feel pressured to invest.
In a statement, Barcelona clarified: “The club has no responsibility for, or involvement in, the issuance or management of this token, nor does it use the associated technology.” This response comes amid rising concerns about the lack of clarity surrounding ZKP, a firm that has garnered attention for its reliance on a “pseudonymous collective” that operates across multiple jurisdictions, making it difficult to ascertain who is behind the venture.
Carol Alexander, a professor at the University of Sussex, expressed concerns about the implications of sponsorships like this, noting that the Barcelona brand can impart a misleading sense of credibility to crypto firms, regardless of their background. She urged fans to exercise caution when considering investments in cryptocurrencies, stating, “Before buying any crypto asset, they should ask who controls it, where the documentation is, and what recourse they have if it fails.”
The specifics around ZKP remain murky, with reports indicating an earlier version of its terms featured an office location in Apia, Samoa. Additionally, the term “Zero Knowledge Proof” also refers to a technology that enhances privacy within blockchain networks, further clouding the company’s intentions.
Barcelona’s financial situation has been precarious in recent years, leading many to speculate that the club is adopting a “bank the money first, ask questions later” strategy in its pursuit of additional revenue streams. Football finance expert Kieran Maguire commented on this trend, stating that crypto products often seek to gain legitimacy through partnerships with prominent sports organizations. Such collaborations not only help the crypto company but also serve as a financial lifeline for struggling clubs like Barcelona.
The partnership has also prompted scrutiny regarding ZKP’s association with controversial figures, including self-proclaimed misogynist Andrew Tate, which has not gone unnoticed. Former Barcelona youth player Xavier Vilajoana, who is reportedly in the running for the club’s presidency, publicly requested clarification on the nature of the partnership and its implications for fans.
As the football giant navigates the complexities of modern sponsorship and financial sustainability, the relationship with ZKP raises critical questions about the responsibility clubs have towards their supporters, especially in the rapidly evolving landscape of cryptocurrency. The BBC has reached out for further comments from Barcelona regarding the ongoing concerns.
