When Paris Saint-Germain decided to say goodbye to the superstar era, it was a welcome sight for supporters. The capital club opted to let Lionel Messi leave as a free agent and sold Neymar Jr. for about €90 million to Al-Hilal.
Although the decision was right to move on from a sporting level, the business side did take a hit. The departures of football superstars Neymar and Messi have raised questions among some of the club’s major sponsors.
L’Equipe reports that one of the primary concerns comes from the cryptocurrency platform Crypto.com. The company entered into a partnership with PSG shortly after the sensational signing of Messi.
The sponsorship deal, worth approximately €8.5 million annually for a three-year term, was expected to be a mutually beneficial relationship. However, the abrupt exits of Neymar and Messi have left Crypto.com reassessing its financial commitment to the club.
As a result, negotiations are already underway as the sponsor likely seeks to find common ground with PSG management. Furthermore, PSG’s Qatari partners, including Aspetar, Ooredoo, and Qatar Airways, have slowly fulfilled their financial obligations to the club.
🚨| Some sponsors are asking questions about their partnership with PSG after the departures of Neymar and Leo Messi.
This is the case with https://t.co/Ing66su3tW, who signed up with PSG a few weeks after the club signed Messi, for three years and around € 8.5M per year. They… pic.twitter.com/Ea9aUHSO8N
— PSG Report (@PSG_Report) October 17, 2023
The Ligue 1 giants’ board, led by club president Nasser Al-Khelaifi, must stabilize the club’s finances and reassure sponsors following recent departures.
PSG’s reputation and attractiveness to sponsors may be at risk if they cannot quickly address the concerns of existing partners. Still, the problems might go away if the French giants go on deep UEFA Champions League runs. Winning tends to make people forget.
