barcelona philips sportstiger 1

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Barcelona has been struggling with their finances over the last few years but since Joan Laporta took over the club he has been making some moves to raise funding. With the summer transfer window on the horizon, Xavi will need some funds to bring in new players. According to MD, Barcelona have signed an agreement for the sleeve of the first team shirt, which will display the name of Philips, the renowned Dutch technology multinational.

This deal could bring in $60 million or €56 million divided unequally in five years. The deal is signed for three years with an option to extend another couple of years. Barcelona will earn €8m first year, €10m in the second, €12m in the third and fourth, €14m in the fifth year.

Along with the sleeve sponsorship Philips will supply all the monitors needed for the renovated Camp Nou stadium. The reason why the last two years are not guaranteed is that there could be another president in place if current leader Joan Laporta isn't re-elected.

These funds will help in registering Gavi whose first-team contract was declined by La Liga because of the limited wage cap. This could also contribute towards any possible future signings including Lionel Messi. Barcelona are working on more such deals to improve their situation and get back to where they were once again.