La Liga, Sports, Uncategorized

Barcelona to sell Camp Nou ‘title rights’ to raise money for the fight against Covid-19.

Spanish giants, FC Barcelona have today announced they are selling the naming rights of the Camp Nou for the 2020/21 season to the Barça Foundation. The goal is to raise revenue that the Foundation will invest in research projects aimed at fighting the effects of Covid-19. The decision has been taken by the FC Barcelona board in a video-meeting on Tuesday  presided over by Josep Maria Bartomeu.

The Blaugrana wrote on their website, “In the next few weeks, the Barça Foundation, through the Club’s Commercial Area, will begin the process of finding a sponsor who wishes to acquire the title rights to Camp Nou for a season with the proceeds going to finance research projects and other projects involved in the battle against the effects of COVID-19, both at a local and international level. Barça are ceding those rights for a name to be put to Camp Nou for the very first time as the title rights are a commercial option that has never been exploited before. Now, the Foundation will put out on to the market the title rights and it will use the money a sponsor brings in the service of a vital cause and one that benefits everyone. The income generated will create a fund that will be divided in the following way: a part will be destined for a project on COVID-19 driven by the sponsors themselves and the rest will be shared out amongst other projects that are being developed in parallel.”

Also Read: Footballing world is joining the fight against the COVID-19 pandemic.

“We are very happy to be able to drive forward this initiative that offers something as emblematic as the name of our stadium, so that institutions, organisations, businesses who wise may associate themselves with it and as such, contribute to the fight against COVID-19, given that their investment will used to finance research projects on the illness and projects that are working to eradicate or lessen its effects. Right now, we can quantify the effects of this health crisis but what we do know is that it will require all our resources to defeat it and for that reason it is so important that we all together make a solid, firm commitment. 

“We are facing a global crisis without precedent in our modern history and we have to assume with courage and calm the responsibility that we have. For that reason, from both the Club and the Foundation, we consider it vital at this time of humanitarian crisis to use all the resources available at the organisation to fight against the coronavirus pandemic and its consequences. It forms part of our way of doing things and of being as an institution.Jordi Cardoner, the first vice president of FC Barcelona and of the Barça Foundation said in a statement.

The statement continued, “The cause, fighting against the coronavirus, is a global one. Being the top sporting entity on a world scale implies that we take on this challenge as fully as we can and if we can serve as inspiration for other organisations involved in the battle, perhaps we can create a wave of hope for millions of people around the world who are suffering due to this pandemic.”

 

 

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