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Tuesday, August 16, 2022

Barcelona CEO Ferran Reverter resigns over club’s sponsorship deal with Spotify

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Barcelona CEO, Ferran Reverter, has resigned from his role amid the club’s negotiations for a new sponsorship deal with Spotify.

Barcelona said Reverter informed club president, Joan Laporta, he had to leave “for personal and family reasons.”

Reverter departs less than a year since taking over the position in July 2021 with the responsibility of leading the project of restructuring the club through a strategic plan until 2026.

Reverter’s resignation came as the Catalan club tries to find a new sponsor to replace Rakuten when the current deal expires at the end of the season.

Read Also: Barcelona seal bumper £240m sponsorship deal with streaming platform Spotify

The new deal is important for the club, which has been slowly restructuring its finances after picking up huge debts because of the coronavirus pandemic and poor management by previous administrators.

Spanish newspaper La Vanguardia said Reverter’s departure came because of discrepancies in the negotiations with Spotify, and disagreements with Laporta.

The deal with Spotify is reportedly worth 280 million euros ($320 million) over three years and would include sponsorship of the main shirt and title rights for Camp Nou Stadium.

Barcelona said Reverter was behind achievements such as “the restructure of the debt, reduction of the payroll, agreements with new partners, and others.”

Reverter said he accepted Laporta’s invitation to be CEO last year shortly after returning to Barcelona from Germany for family reasons.

“I have put in much effort and dedication during these months, but I now wish to focus on the reason why I returned to Barcelona, which is to spend more time on personal and family projects,” he said.

“These are been passionate months and I thank the president for his trust and, above all, his enthusiasm and capacity for leadership that mean FC Barcelona now has a first-class executive team that can reposition Barçelona as a world leader.”

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