Messi to receive part of PSG signing fee in crypto

Football legend Lionel Messi will reportedly receive part of his signing on fee at Paris Saint-Germain in the club’s native cryptocurrency.

The six time winner of the Ballon D’Or best player award ended a two-decade long career at the Catalonian club.

Confirming the news to Reuters, PSG said that Fan Tokens would be included in Messi’s “welcome package,” which media reports have estimated is worth up to €30m (£25m). While the club did not disclose what proportion of the fee will be paid in Crypto, they said it was “significant.”

The Fan Tokens, launched by Paris Saint-Germain in January 2020, can be traded on exchanges and provide holders with voting rights on minor decisions made by the club –  such as choosing an inspirational message for the captain’s armband.

Confirmation of the deal between Messi and Saint-Germain sent the price of PSG Fan Tokens soaring. Price is up 85 per cent this week, reaching highs of $61.23. Trade volume also soared on Tuesday when it topped $657m in 24 hours, up 4,810 per cent compared to a week prior.

In comments to Reuters, Alexandre Dreyfus, the CEO of socios.com which provides crypto tokens for PSG and other football clubs, said “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.”