Barcelona sell assets to raise funds for new signings

The La Liga giant, Barcelona FC of Spain, has devised alternative means to raise money urgently so as to invest in more new signings and to register new players for the season.

The club resolved to activate a series of economic “levers” to quickly sell off some assets to raise money for the new season.

Barcelona, accordingly, disposed 25 per cent of domestic television rights for the next quarter of a century to US investment firm, Sixth Street, for 400 million euros.

They also sold 24.5 per cent of Barcelona Studios, that manages the club’s digital business and audiovisual productions, to Socios.com for 100 million euros on August 1, as well as 25 per cent GDA Luma to US investment firm for 100 million euros.

Barcelona in a few weeks’ deals, realized 600 million euros in fundraising to boost their finances, increase the salary limit set by La Liga and facilitate the registration of new signings for the start of the season.

It was gathered that Barcelona signed the biggest sponsorship deal in their history with Spotify, realizing about 435 million euros for the music streaming giant to feature on the club’s shirts and to have naming rights to the Camp Nou.

Barcelona shifted from mortgaging part of the club’s assets to exchange funds to urgent cash inflow.

Barcelona went of their way to raise funds to sign Robert Lewandowski from Bayern Munich, Germany, returnee centre-backs Jules Kounde and Andreas Christensen, Franck Kessie, AC Milan midfielder, and Brazilian winger Raphinha from Leeds United, England.

Barcelona had considered selling some players to raise funds but without success. The management has been persuading Frenkie de Jong to leave, but the player insists on staying.

Other players encouraged to leave include Martin Braithwaite, Samuel Umtiti and Memphis Depay, Italian Serie A giant, Juventus was identified to be interested in Depay

Some other players who include Gerard Pique and Sergio Busquets are being encouraged to accept wage cut.

Barca was compelled to allow Lionel Messi to leave last season when weighed down by whopping debts of 1.35 billion euros ($1.39 billion). Barcelona have so far spent 153 million euros on transfer fees for new signings.