“Barcelona Remains Awaiting Payments for Asset Sales as Stock Market Deal Faces Uncertainty”

Barcelona’s plans to debut on the American stock exchange market NASDAQ this year are teetering on the edge of uncertainty as payment delays continue to plague the club.

In August, Barcelona made a significant move by reselling 29.5% of their image rights subsidiary, Bridgeburg Invest, which holds control over Barca Vision and the revenue generated from image distribution. This transaction was valued at €120 million and occurred after the original buyers, Orpheus Media and Socios, failed to make the full payment on time, having only provided an initial payment of €60 million.

The new buyers, Libero and NIPA, were expected to pay the remaining €60 million by the end of August and contributed an initial €20 million several weeks after the deal. However, Barcelona is still waiting for the outstanding €40 million.

Reports suggest that part of this payment is intended to reimburse President Joan Laporta and Director Ferran Olive for the bank guarantee they provided to facilitate the registration of Joao Felix and Joao Cancelo. The rest of the funds will be allocated towards new contracts for key personnel, including rising star Gavi and the coaching staff led by Xavi Hernandez.

Any surplus funds were slated to be directed towards an accelerated deal to sign Vitor Roque in January, who was initially scheduled to join in July 2024 for a fee of €30 million plus €31 million in variables. However, Barcelona’s patience with Libero appears to be waning, and there is a possibility that the club may seek a fifth investor in their subsidiary in less than 18 months.

In addition to these financial complexities, it has been reported that Barcelona and the German investment fund have informed NASDAQ regulators of changes to the terms of their deal. This alteration enables Barcelona to terminate the agreement at any point, with the new deadline set for October 10th—just under a month away. Intriguingly, Libero has faced no consequences for missing their initial payment deadlines, a trend also observed with Socios and Orpheus Media.

Barcelona had originally intended to take Barca Media to the stock exchange in December through a Special Purpose Acquisition Company in partnership with Mountain Ventures, a Swiss venture capitalist firm. However, if the anticipated funds from Libero do not materialize, it could jeopardize the entire stock exchange listing.

Barca Vision has been valued at approximately €1 billion, with Mountain Ventures holding a 20% stake and Bridgeburg Investment claiming the remaining 80%. If Libero, NIPA, Orpheus Media, and Socios collectively own 49.5% of Bridgeburg Investment, and Barcelona retains 50.5%, the potential increase in profits for Barcelona is substantial. However, it is important to note that the club’s share of the profits would decrease from 100% just over two years ago to 40% if the stock exchange deal proceeds as planned. The deal remains subject to approval from club members, adding another layer of complexity to this evolving financial landscape.