FC Barcelona sells 25% stake in media arm for $102 million

FC Barcelona have reached an agreement to sell a 24.5% stake in Barca Studios, the club’s media production arm, to blockchain-based fan engagement company Socios.com for $102 million.

Sale of part of Barca studios will help La Liga club – who reported $1.56 billion in debt in October 2021 – ease its financial difficulties and compete in the player transfer market. In June, Barcelona’s economic vice-president said the club needed $535 million to avoid financial devastation.

  • Socios.com has agreements with over 150 sports organizationsincluding the NFL.

  • Barcelona and Socios.com are going to collaborate to build Barca Studios’ digital portfolio.

  • The deal will also allow Barcelona to ‘produce new sources of long-term revenue’.

The pact with Socios.com follows Barcelona’s agreement in June with private equity firm Sixth Street to sell a 10% of capital in its television rights in a deal worth up to $278 million.

Barcelona doubled down in July after reaching an agreement with Sixth Street to sell an additional 15% stake in its media rights for $327.5 million, bringing the company’s total stake to 25%.

Team work

Barcelona’s deal with Socios.com stems from a pact between the club and its delegates.

In June, delegates approved the divestment of up to 25% of Barcelona’s TV rights revenue for 25 yearsas well as the sale of a minority stake in its licensing and merchandising division.

Barcelona had estimated that he could earn around $631 million for offers.

Read the original article on FrontOfficeSports.com.

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