Picture Credit: David Ramos/Getty Images
Spanish club FC Barcelona has announced that they have triggered their fourth financial lever of the 2022 summer as they have sold 24.5% of Barca Studios to Orpheus Media. Club President Joan Laporta has been pushing hard to improve Blaugrana's shaky financial situation.
Laporta has been selling off portions of revenue streams in exchange for cash upfront. Similarly, Barcelona announced on Friday that they will be further selling 24.5% of Barça Studios to Orpheus Media. The Catalans have already sold that same amount of equity of the Barca Studios to Socios.com earlier this summer.
A statement read, “FC Barcelona announces the sale of 24.5% of Barça Studios to the company Orpheus Media, managed by Mr Jaume Roures, audiovisual producer with an extensive career in the creation of audiovisual and digital content, for an amount of 100 million euros. This agreement complements the one already signed last July 29 with Socios.com and will serve to accelerate the growth of the Club's digital strategy, NFT and Web.3.”
“The sale has taken term in accordance with the authorization of the General Assembly of Members and Partners of FC Barcelona held last October 23. With these investments, the strategic partners of Barça Studios demonstrate their confidence in the value of the project and the future of digital content in the world of sport.”
Barcelona will hope that this move will allow them to register their summer signings – Franck Kessie, Andreas Christensen, Raphinha, Robert Lewandowski and the contract renewals of Ousmane Dembele and Sergi Roberto. Barcelona finished the last season 13 points behind Real Madrid in La Liga and ended their 2021-22 season trophy-less.
But despite these financial problems, the Blaugrana have had a successful preseason and manager Xavi Hernandes was extremely elated with the progress and intensity portrayed by the team. He said, “Overall, we had a good pre-season. It was dynamic, with good football, and good results. The sensations are very good.”
“I have many options and it will be difficult to decide on the starting XI, but this is a good thing. Competition makes everyone better. With this intensity and desire levels, we’re doing well. Intensity is indisputable. However, there are a lot of things we have to improve.”