Barcelona turns down Asian sponsor for its shirt

Spanish Primera Liga club, FC Barcelona, has turned down a €15 million offer to carry the name 'Beijing' on their shirts to promote the 2008 Olympic City. According to AP quoting Spanish media, the club had been on the verge of a five-year agreement with Chinese authorities, but decided against the deal, preferring to retain their shirt-sponsorship free status. Reportedly, Barcelona, has not ruled out shirt sponsorship in the future but will only consider European and American multinationals as prospective partners. Meantime, the club may attempt to raise funds by renegotiating with suppliers, possibly shirt manufacturer Nike, with which it has a €12-million deal running until 2008. The club, looking for ways to boost its revenue since Joan Laporta took charge in 2003, intends to still license products in Asia and continue its tours in the region.

See also: Inter Milan to sport Mandarin sponsor on shirt