Barcelona Distances Itself from Crypto Sponsor After Backlash
FC Barcelona has issued a formal statement distancing itself from the cryptocurrency activities of its new blockchain partner, Zero-Knowledge Proof (ZKP), following mounting criticism and concerns over the club’s association with the little-known startup.
The partnership, announced in mid-November, named ZKP as Barcelona’s official blockchain technology partner. The agreement grants ZKP access to the club’s digital platforms and media channels, raising alarm among fans and industry experts about the potential for misleading promotion of risky crypto assets.
ZKP, a startup registered in Samoa and the British Virgin Islands, has faced intense scrutiny for its lack of transparency. The company’s leadership remains undisclosed, and its operations have been linked to controversial figures, including Andrew Tate, a far-right influencer facing legal charges in the UK. ZKP’s social media presence is minimal, and its terms of service previously listed a Samoan business consultant as its registered address—a detail that has since been removed.
Barcelona’s statement, released through its official channels, emphasized that the club has “no connection whatsoever” with ZKP’s token, bears “no responsibility” for its issuance or value, and is not involved in the technology or financial products associated with the startup. The club reiterated its commitment to transparency and stated it would provide updates as more information becomes available.
Despite these clarifications, critics argue that the partnership exposes Barcelona’s global fanbase to potential financial risks. Martin Calladine, an author specializing in crypto scams in football, warned that fans could be enticed into purchasing ZKP tokens that may quickly lose value. “It is incredibly concerning that Barca’s leadership would choose to associate the club with a company whose background raises so many red flags,” said former Barcelona board director Xavier Vilajoana, who plans to challenge current president Joan Laporta in next year’s election.
The deal is expected to generate around €3 million annually for Barcelona, a modest sum compared to the club’s broader commercial ambitions. However, critics suggest that aligning with a crypto firm lacking transparency could alienate traditional sponsors and fans, particularly in Europe, where regulatory scrutiny of crypto projects is intensifying.
The controversy highlights a broader trend in sports, where legacy brands are increasingly partnering with unproven blockchain firms to generate revenue. Experts caution that such alliances carry significant reputational and financial risks, especially when the underlying companies operate in jurisdictions known for financial secrecy.
Barcelona’s financial troubles have been well-documented, with the club reportedly carrying €469 million in net debt and an additional €900 million related to stadium renovations. The ZKP partnership comes amid ongoing efforts to stabilize the club’s finances, but critics argue that desperation may be influencing decision-making.
As the fallout continues, Barcelona faces mounting pressure to ensure that its commercial partnerships do not compromise the trust of its supporters or expose them to undue risk. The club’s handling of the ZKP controversy will likely serve as a case study for other sports organizations navigating the complex and rapidly evolving world of crypto sponsorships.