Barcelona approved on Thursday the sale of a minority share of their licensing and merchandising division and the cession of up to 25% of income from their LaLiga TV rights in a bid to improve their financial situation.
The club board hopes this will enable them to finish the financial year without losses and increase their spending limit.
Club president Joan Laporta said they expect to sell up to 49.9% of retail operation Barcelona Licensing and Merchandising (BLM) for 200-300 million euros and a minimum of 200 million each 10% of the LaLiga TV rights for 25 years.
The plan to sell BLM received 89.3% backing from 636 participants (only 14.2% of the club’s total delegates) in the referendum while the TV rights deal got 86.8% support.
“When we arrived last year, we found ourselves in a very complicated financial situation. We couldn’t afford the payroll of May 2021. Investors were demanding 200 million euros that we did not have,” Laporta told the assembly.
“We believe that using club’s assets to create financial levers is the best way to bring back Barca to being competitive again.”
via Reuters
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