Barcelona are still unable to score summer signings after La Liga rejected an attempt to use the club’s own money to inflate the value of two asset sales they have turned to in order to balance the books and strengthen their squad.
The intent now is to turn into a fourth source of extraordinary income by selling another 25% of their content production company, Barça Studios, for nearly €100 million in the hope that it will allow them to include newcomers like Robert. Lewandowski, Andreas Christensen and Jules Conde are in the squad for their opening game against Rayo Vallecano on Saturday night.
Barcelona had benefited from €667m (£562m) from selling two TV rights packages in the future, and had hoped this would help enable them to comply with La Liga financial fair play rules. They also announced the sale of just under 25% of Barça Studios, the third so-called “relapse“or the economic ‘cranes’ they used this summer. In total, including a new sponsorship deal with Spotify, player departures and increased revenue, Barcelona said they have brought in more than 850 million euros as they seek to improve their squad and fix the financial crisis.
But the league’s audit found that the amount Barcelona received directly from Sixth Street investors for two TV rights packages of 10% and 15%, respectively, was only €517 million. Spanish radio station Cadena Cope reported that the remaining 150 million euros had been paid by the club itself. The process is legal, approved by the club’s auditors Grant Thornton, but the league recalculated the interest on the basis that 150 million euros of the amount is not new income.
Having spent more on transfers than any club in Spain and not yet managed to cut his salary expenses sufficiently, this leaves Barcelona still far from the bottom line where they can register all their players in La Liga.
Instead of selling these packages directly to Sixth Street, Cobb said, Barcelona set up a project called Locksley Investments. That company bought the club’s television rights to a permanent deal, with Sixth Street buying the two packages over the next 25 years. Barcelona then spent €150 million of its own money to buy the rights from year 26. This enabled the total accounting value of the deal to be even greater now, as it announced two deals, the first for 10% of the club’s La Liga TV rights over 25 years, and the second for Another 15%.
When the second deal was completed, they announced that the club would receive 315 million euros immediately and that the operation would result in an interest of 400 million euros. Barcelona president, Joan Laporta, also expressed the hope that the league would share its interpretation of the standards. What were.
Barcelona is not satisfied with the interpretation applied. The league has strict financial rules for fair play – a “salary limit”, which is based primarily on calculating income against team cost – which is preventative rather than punitive: if the club’s club expenses on its team exceed the limit set by the league, an automated system that simply doesn’t allow them to Register players.
Laporta said he hopes he won’t have to resort to a fourth lever, although the board has already approved the move if necessary, which it now appears to be. At member meetings this spring and fall, his management, inheriting a serious financial crisis, was previously given permission to sell a percentage of future television broadcasting rights (up to 25% for up to 25 years), Barca Studios and 49% of the club’s licensing arm BLM. . The latter has not happened yet.
Barcelona continue to try to move players, with Frenkie de Jong’s departure particularly likely due to the size of his salary and his consumption. They are negotiating salary cuts with top players and club captain Gerard Pique, Sergio Busquets and Jordi Alba and intend to sign more.