FC Barcelona has struck a deal to sell a 24.5% stake in Barca Studios, the club’s media production arm, for $102 million — marking its second minority stake sale this month.
The La Liga club — which reported more than $1.5 billion in debt in October 2021 — will sell the minority stake to investment fund GDA Luma, according to Spanish daily newspaper Sport.
The deal comes after Barcelona was unable to register players for the upcoming season.
In June, the club leadership said $535 million was needed to avoid financial devastation.
Barcelona’s deal with GDA Luma is the fourth transaction the club has made to alleviate its ongoing financial woes. Earlier this month, Barcelona agreed to sell a 24.5% stake in Barca Studios to fan engagement company Socios.com in a pact also valued at $102 million.
In June, Barcelona secured a deal with private equity firm Sixth Street to sell a 10% stake in its TV rights that’s worth up to $278 million. The club doubled down in July after signing a deal with Six Street to sell an additional 15% stake in its TV rights for $326.5 million.
Barcelona will still not be able to register all of its signings for the upcoming La Liga season, which starts on Aug. 13, despite an influx of fresh capital following its deal with GDA Luma.
The club still needs to secure $61.4 million “through sales or other income,” according to Spanish news outlet COPE.
Source: norvanreports.com