Friday, May 24, 2024

Barcelona sells 25% of its audio/visual production company


Barcelona president Joan Laborta announced on Monday that the club has sold a 25 percent stake in its audiovisual production company to Socios Digital Services for 100 million euros ($102 million) as the Spanish giant ramps up efforts to generate revenue for new players.

Socios will be Barcelona’s technical partner under the deal, Laporta said at a press conference to introduce new signing Jules Conte from Sevilla.

Barcelona is using a number of methods to increase its revenue to cover losses, reduce debts and meet the rules of financial fair play in the Spanish league.

The deal comes after the club sold another 15 percent of its television rights to American group Six Street last month, giving the group a 25 percent stake.

Barcelona signed Brazil winger Rafinha from Leeds United and Polish striker Robert Lewandowski from Bayern Munich after buying a 10 percent stake from Six Street.

Laporta, who led the club between 2003 and 2010, said the club’s total debt as of August 2021 was 1.35 billion euros, of which 673 million was owed to banks.

In June, Barcelona agreed to sell a minority stake in its licensing and marketing division and to pay up to 25 percent of its revenue from TV rights for La Liga matches.

The club signed a shirt and home sponsorship deal with Spotify in a €280 million deal and agreed financial plans in December to refurbish the Camp Nou.

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Camelia Garner
Camelia Garner
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