Ratification of the second transfer of TV rights and assets of Barça Studios, as well as the budget for the current season

On the third item of the agenda, the delegate members gave their majority support to the three votes. In the first of these, ratification of the transfer of 15% of TV rights to Sixth Street,

On the third item of the agenda, the delegate members gave their majority support to the three votes. In the first of these, ratification of the transfer of 15% of TV rights to Sixth Street, was approved with 90% support (474 ​​for, 39 against and 13 whites). In the second, corresponding to the ratification of the transmission of 49% of the activities of Barça Studios to Socios.com and Orpheus Media, the delegated members cast a majority vote with 87.28% of the votes (460 for, 39 against and 21 whites). ). For the third, the budget vote for the 2022/23 season, which forecasts an income of 1.255 billion euros and a profit after tax of 275 million, 90.5% of the votes, 478, were for, 35 against and 15 whites.

Ratification of two financial levers

The second part of the minority transfer of TV rights, in this case 15%, also to Sixth Street, meant the generation of 400 million additional revenues, and like the first transfer, it is also a 25-year operation with a buyout option offered to the club. With the sum of the two actions, the total sale of 25% of the TV rights amounts to 667 million euros. Eduard Romeu assured that the option to buy back in 25 years would be “at a symbolic price” and that if the value of LaLiga’s rights increased, the time frame in which this asset could be recovered would be shorter. The operation goes through the creation of the company Locksley, owned 49% by FC Barcelona and 51% by Sixth Street, just like the first lever.

In addition, and always with the consent and ratification of the Assembly, the club has activated the exploitation of a minority part of Barça Studios to third parties, in an operation that does not include traditional television, Barça TV or the production of content, which remains 100% owned by the club.

This operation is based on the transfer of a minority stake in Bridgeburg Invest, SL, a subsidiary of Barça Produccions, SL, dedicated to the management and development of digital content related to Metaverse, NFT and Virtual Utility Tokens, which are still ongoing. of development.

Thus, in this operation, 49% of the digital business is sold to two expert companies in the sector, namely Socios.com and Orpheus Media, with 24.5% each, with an investment of 200 million. The club also has a buyout option after five years.

Vice President Eduard Romeu described the value of these companies in the digital field, saying that “they will help us to accelerate this activity thanks to their knowledge and experience in the sector of audiovisual production in new formats”, and added that they also have capital to accelerate the investments necessary for the development of the company.

Budget 2022/23

Members also approved the budget for the current 2022/23 season, which projects revenue of 1.255 billion, with after-tax profits of 275 million.

This is a historic turnover record for the club, thanks to the sale of 15% of La Liga television rights for an amount of 400 million euros.

Excluding this extraordinary effect, the club expects to increase its remaining revenue by €105 million compared to the 2021/22 financial year, thanks to the improvement of its sponsorship agreements, including the agreement signed with Spotify, the merchandising activity growth plan strategy and also thanks to the full recovery of stadium revenues.

In terms of operating expenses, the desirable figures have not yet been reached, with a forecast of 1.065 billion, with a high payroll which should be reduced in the years to come. The club have made a big push in terms of signings to build a competitive squad and also have to deal with a series of long-term contract commitments. The club’s intention is to continue working to contain the sporting wage bill in the coming seasons, as one of the most important pillars of the mandate.