Schneider Electric Expands Youth Partnership with Enactus to Drive Inclusive Energy Transition in Egypt    China's Jiangsu Zhengyong to build $85m factory in Egypt's Ain Sokhna: SCZONE    Egyptian pound ticks up vs. US dollar at Thursday's close    Egypt condemns Israeli plan to build 3,400 settler homes in West Bank    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Egypt, Namibia explore closer pharmaceutical cooperation    Egypt, China ink $1bn agreement for Sailun tire plant in SCZONE    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egypt's Electricity Minister discusses progress on Greece power link    Egypt's FM discusses Gaza, bilateral ties in calls with Saudi, South African counterparts    Egypt prepares to tackle seasonal air pollution in Nile Delta    27 Western countries issue joint call for unimpeded aid access to Gaza    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Colombia discuss medical support for Palestinians injured in Gaza    Australia to recognise Palestinian state in September, New Zealand to decide    Egypt, Huawei explore healthcare digital transformation cooperation    Global matcha market to surpass $7bn by 2030: Nutrition expert    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Egypt, Uganda strengthen water cooperation, address Nile governance    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Korean Cultural Centre in Cairo launches folk painting workshop    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Barcelona members approve Qatar sponsorship mega-deal
Published in Ahram Online on 24 - 09 - 2011

Barcelona's members backed the club's controversial sponsorship deal with Qatar Sports Investment on Saturday, the final hurdle to securing a cash injection of as much as 170 million euros ($230 million)
Members gathered at the Spanish and European champions' general assembly voted 697 in favour of the record five-year deal, the biggest for any soccer club, with 76 against and 36 blank votes, the club said on their website (www.fcbarcelona.cat).
Barca president Sandro Rosell and his board of directors had been lobbying members to vote in favour of the agreement amid criticism the club was compromising its ideals by taking money from an unsavoury regime.
Rosell, starting his second season in charge, has argued that the money is needed to help improve the club's financial situation and help pay for the development of its sports teams.
“I would like things to be different and that the Barca shirt could be blank,” Rosell said. “But it can't be because that way our opponents would overwhelm us.”
The Spanish and European champions were one of the few sides in world soccer not to have a corporate logo on their shirts, instead displaying the name of the United Nations Children's Fund (UNICEF), for which they paid the organisation 1.5 million euros ($2 million) a year.
Their shirts now carry the name “Qatar Foundation” on the front, with UNICEF relocated to the back below the player's name.
Some members spoke out against the deal, pointing to what they said was Qatar's poor human rights record.
“We want an explanation as to what this deal means,” member Marc Ferrer was quoted as saying in Sport newspaper. “I urge reflexion. Vote no so that a dictatorship does not become Barca's sponsor.”
Vice president Javier Faus said the cash from Qatar was needed so Barca could live up to its motto of “More than a club”.
“It is true that Qatar does not treat its immigrants well. It's not much different to what happens here. They (Qatar) are aware of it and are working on it.”
Members also approved the club's accounts for the 2010-11 season and the projected budget for the current season.
Barca made a loss of 9.3 million euros last term, less than half the 24.1 million originally expected, while revenue rose 14 percent to a record 473 million euros.
A net profit of 20.1 million euros has been budgeted for the current season, with income projected at 461 million euros. However, if Barca were to defend their Champions League title, revenue would climb to 491 million, the club said.
Barca are one of four Spanish top-flight clubs which is owned by its members, along with Real Madrid, Athletic Bilbao and Osasuna.


Clic here to read the story from its source.