Indebted Barcelona sells more assets in hope to sign new players
Football club Barcelona has sold off even more of its club assets in the hopes of meeting the Spanish league's financial rules so that the new signings can play in the season opener.
Barcelona said on Friday that it had agreed to sell 24.5% of its Barça Studios production hub to Orpheus Media in a 100 million euros (3 million) deal.
Last month Barcelona sold an initial 25% stake in its production hub to Socios.com for another 100 million euros as well as 25% of its Spanish league television rights for the next 25 years for nearly 670 million euros (9 million).
The Catalan club has mortgaged its future for 870 million euros (5 million) to sign Robert Lewandowski from Bayern Munich along with other talented newcomers.
Regarding the sale of nearly 50% of its production hub, Barcelona said in a statement that “with this investment, the strategic partners in Barça Studios show confidence in the value of the project and the future of digital content in the world of sport.”
It also comes with Barcelona yet to register its new signings with the Spanish league.
Barcelona is set to open the season on Saturday at home against Rayo Vallecano.
Barcelona has been able to strengthen its squad by signing Lewandowski, winger Raphinha and defender Jules Koundé for a combined 160 million euros (5 million).
But the Spanish league has strict financial requirements that limit the amount clubs can spend on players' salaries and transfers based on the clubs' financial health. Despite efforts to reduce costs and pay down its debt, Barcelona still holds 1 billion euros ( billion) in debt and has seen its salary cap slashed by the league in recent seasons.
This new injection of another 100 million euros should help Barcelona's financial balance that it presents to the league and increase its chances of being able to register all those players.
The club is also pushing to sell players such as Samuel Umtiti and Martin Braithwaite that are either unwanted by coach Xavi Hernández or have big salaries like Frenkie de Jong.
(Inputs from PTI)
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