A new funding objective has been reached in FC Barcelona's race against time to register its crop of new signings in La Liga, which begins this weekend. Since the end of June, Barça had announced three funding operations to cover the costs of renewing its squad, but after it transpired that the third financial lever - worth 100 milion euros - would not be sufficient to register the incoming players in the Spanish Professional Football League, club president Joan Laporta was left between a rock and a hard place and was forced to seek further funding.
Time was running out for FC Barcelona, and although the Barcelona president had said that "hopefully we won't have to make any more moves", there was no other alternative. In fact, Mundo Deportivo reported on Thursday evening that the activation of the fourth deal - for a further 100 million - was 90% of what the club needed to enroll Robert Lewandowski and company in La Liga Santander which plays its first round this weekend, between Friday and Monday. Barça debuts against Rayo Vallecano at the Spotify Camp Nou on Saturday.
Laporta sells another 24.5% of Barça Studios to Orpheus Media
The first two deals done by the club to obtain financial leverage were both with the US investment firm Sixth Street Partners, ceding a total of 25% of the club's audiovisual rights over the next 25 years at a price in excess of 600 million euros. The third economic lever accredited the sale of 24.5% of the club's audiovisual production house Barça Studios to Socios.com for 100 million euros, but in view of the need for a new economic boost, the Catalan sporting giant has sold a another 24.5% of the club's audiovisual content division to Orpheus Media, a company managed by Catalan media mogul Jaume Roures.
This latest transfer was approved by the club's management as far back as October 23rd last year, but the board had planned to do the deal with GDA Luma. The difficulties in closing the deal due to legal and administrative impediments forced the Barça adminstration to look for an alternative. Finally, Orpheus Media was the buyer.
Joan Laporta: "The risk is under control"
Joan Laporta announced the activation of the third lever during the presentation of 23-year-old French centre back Jules Koundé on July 29th and, despite wanting this deal to be the last sale of the club's assets, he allayed any doubts by assuring that "the risk is controlled".
At that point, Barça could still afford to sell another 24.5% of Barça Studios in accordance with the club's financial stability guidelines and with what the delegated club members had agreed in late 2021. The club's official statement reads that the sale "will serve to accelerate the growth of the digital strategy, NFT and Web.3", but the truth is that the imperative need for this new impetus of 100 million euros is necessary to be able to see the recently signed Koundé, along with Robert Lewandowski, the Brazilian star Raphinha, Ivory Coast midfielder Franck Kessié, Danish defender Andreas Christensen - not to mention the recently contractually-renewed Dembélé and Sergi Roberto - all stepping out onto the Camp Nou against Rayo Vallecano on Saturday at 9pm.