Lionel Messi: PSG include cryptocurrency fan tokens in former Barcelona star's signing-on fee
Lionel Messi's welcome package at Paris Saint-Germain includes fan tokens - a type of cryptocurrency that allows holders to vote on mostly minor decisions related to their clubs; Messi is unlikely to be ready to make his debut against Strasbourg on Saturday, says coach Mauricio Pochettino
Friday 13 August 2021 16:00, UK
Lionel Messi's signing-on fee at Paris Saint-Germain includes some of the French club's cryptocurrency fan tokens, in the latest big-name endorsement of new digital assets.
The Argentine, 34, left Barcelona and signed a two-year contract at PSG, with an option for a third year, on Tuesday.
Confirming an exclusive Reuters report, PSG said the tokens were included in his "welcome package," which media reports have estimated at €25-30m. The club did not disclose the proportion of tokens in the package, but said the amount was "significant".
Fan tokens are a type of cryptocurrency that allows holders to vote on mostly minor decisions related to their clubs. Among clubs to launch tokens this year are Premier League champions Manchester City and Italy's AC Milan. Messi's former club Barcelona launched one last year.
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The tokens are increasingly seen by clubs as a source of new revenue and Socios.com, which provide the tokens for PSG and other top clubs, says tokens have generated nearly $200m for its partner clubs in 2021, with PSG already seeing revenue from the Messi deal.
Like bitcoin and other digital currencies, fan tokens can be traded on exchanges. They also share in common with other cryptocurrencies a tendency for wild price swings, leading some regulators to issue warnings to investors about digital assets.
Still, several high-profile business and entertainment figures have backed crypto assets, with Tesla boss Elon Musk, Twitter founder Jack Dorsey and rapper Jay-Z among those to have shown support for bitcoin.
PSG said there had been high volume of trading in its fan tokens after reports that Messi was set to join the club.
Trading volumes exceeded $1.2bn in the days preceding the arrival of the six-time Ballon d'Or winner, it said.
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"We have been able to engage with a new global audience, creating a significant digital revenue stream," said Marc Armstrong, PSG's chief partnerships officer.
The price of PSG's fan token rallied this week on rumours of the Messi deal, with new sales generating around €30m and PSG taking an unspecified majority of that amount - at least €15m, a source with knowledge of the matter said. PSG declined to comment.
Fan tokens' price moves can have little connection to on-field performance or results.
PSG's token, which has a market capitalisation of about $52, soared over 130 per cent in just five days amid speculation over Messi's arrival to an all-time high of over $60 on Tuesday. They were last down 10 per cent at about $40, according to the CoinMarketCap website.
Alexandre Dreyfus, the CEO of Socios.com, said PSG was benefitting from its token and other clubs could imitate its deal with Messi.
"I believe this could be the start of a new trend as fan tokens and Socios.com play an increasingly prominent role across sport at the very highest level," he said.
Saturday too soon for Messi debut
The arrival of Messi at PSG has created a positive mood at the Ligue 1 club but he is unlikely to play any part in Saturday's home game against Strasbourg, head coach Mauricio Pochettino said.
Speaking at Friday's news conference ahead of the league fixture after Messi joined PSG from Barcelona earlier this week, Pochettino added his first task was to make sure a star-studded outfit began to look the sum of its parts.
PSG surrendered the French league title to Lille last season and were eliminated in the Champions League semi-finals by Manchester City despite boasting the likes of Neymar, Kylian Mbappe and Angel Di Maria in their ranks.
Adding Messi to the fold will have raised expectations among fans and the board at the Qatari-owned club, whose management have invested heavily in a bid to see the club win their maiden title in Europe's premier club competition.
But Pochettino, who took over at PSG midway through last season in January, struck a note of caution after 34-year-old Messi arrived from Barcelona, his only previous professional club.
"Our challenge now is to ensure all of these top players form a team capable of meeting all the challenges ahead of it," said Pochettino. "We want to make sure that this team becomes a strong unit.
"As for when we might see Leo Messi in action, it is his second day of training after a month since he played the last game at the Copa America.
"We will take things step by step, get to know each other and have him feel fit and comfortable so that he is able to make his debut when he is fully fit."
When asked about the future of striker Mbappe, who has been linked with a move to Real Madrid either during the current transfer window or next summer when his contract with PSG expires, Pochettino said: "Kylian is our player.
"We all know that Leo Messi is the best, or one of the best players in the world, without any doubt. Nevertheless, we have other players as well and Kylian is also one of the best players in the world."
