The coronavirus pandemic has affected all football clubs heavily, with sales dropping 8.2% in 2020 to €8.2 billion for the top 20 European clubs.
The absence of supporters in the stands for the entirety of 2020 has hit football clubs massively, with millions of pounds being reported as loss. However, Barcelona, Manchester City, Arsenal, Juventus, and PSG have managed to find ways to generate revenue without fans in stadiums. According to a report by the Telegraph, these clubs have managed to raise a total of £150 million.
Four of the clubs in context have managed to raise more than £20 million. The secret behind their revenue is the socio-cryptocurrency platform. Tokens are bought on the socio app, which has more than a million registered users. The benefits involved are more than that of a season ticket holder.
The memberships purchased by fans are as cheap as £2, and it allows them the opportunity to take part in several club decisions. They are also entitled to preferential treatment from the club, such as invitation to limited capacity matches.
This has divided the fanbase to some extent, with some fans believing the club is distancing themselves from the common fans by making themselves so exclusive. The common sentiment here is that some fans don’t think the majority knows the long-term effects of their decisions right now.
It remains to be seen whether or not the lower clubs will also benefit from such a financial structure or whether it is limited to the European elite.
