FC Barcelona is facing criticism for partnering with Zero-Knowledge Proof (ZKP) , a Samoa-registered blockchain startup with low transparency, amid growing financial pressure.
The Catalan club has signed a three-year sponsorship deal with ZKP, a little-known Samoan blockchain startup that had just a few dozen social media Watcher when the deal was announced. According to the Financial Times , the partnership has led many to accuse Barcelona of “racing” for revenue and potentially putting fans at financial risk through a company with little transparency about its operations or leadership.
Barcelona announced the deal on November 15, making ZKP its official blockchain technology partner, despite the company having a limited digital footprint and being registered in a “tax haven” on the European Union’s list.
Many have raised concerns about suspicious connections, including controversial influencer Andrew Tate promoting the zero-knowledge proof system just hours after the deal was announced, with a video version featuring the ZKP logo being broadcast on the company's Telegram channel.
Red alert and lack of transparency
ZKP launched its first post on X with 33 Watcher, following only FC Barcelona, Bitcoin, and Andrew Tate . The company held its first 200 million coin auction on November 21. ZKP’s website, while committed to transparency, barely reveals who runs it or who provided the $100 million in Capital it claims.
Martin Calladine, author of No Questions Asked: How football joined the crypto con , described the lack of information as “very worrying” and warned Barcelona fans could be lured into buying coins that “could easily become worthless.”
Former Barcelona board member Xavier Vilajoana questioned how much due diligence the club had done before signing the deal, stressing that the partnership with a mysterious crypto startup was a sign of “desperation” amid financial difficulties. On November 26, Barcelona issued a statement distancing itself from ZKP’s newly announced FCB Token , claiming it had “no connection” with the project.
Financial pressure increases
The deal with ZKP comes as Barcelona faces huge financial pressure following a string of poor player transfers between 2017 and 2019. The club has been fined several times for exceeding spending limits, with its latest financial report showing a net debt of €469 million and more than €900 million in stadium-related debt.
Barcelona have tried to improve their finances through asset sales, including some long-term TV revenue, but costly delays to stadium renovations have made the need for more revenue urgent. Other Barcelona Web3 projects have also failed. Last year, the club recorded a €141 million write-down after a deal to sell a stake in Barça Vision collapsed after investors failed to pay.
Despite this, Barcelona has maintained its digital asset initiatives, including selling its first Non-Fungible Token for $693,000 at Sotheby's in July 2022 and launching FC Barcelona Fan Tokens via Chiliz and Socios in June 2020, which sold for $1.3 million in less than two hours.
Industry growth trends
Crypto companies have been sponsoring football clubs in recent years, but many of the deals have ended in controversy, such as Inter Milan, Roma, Chelsea or Atlético Madrid. Paris Saint-Germain was the first sports team to adopt a Bitcoin Treasury strategy in May 2025.
According to Sport Quake research, football accounted for 43% of all crypto and digital asset sponsorships in the 2024/25 season, up 64% year-on-year. Recent deals include Kadena with the Croatian Football Federation and Tether buying a minority stake in Juventus FC.
However, Barcelona's partnership with ZKP remains marked by the company's opacity and the speed with which red flags have emerged.
