Barcelona-based daily La Vanguardia reported it was worth 280 million euros, one of the most expensive sponsorship deals in the world. The company’s logo will also appear on players’ shirts for the next four seasons. On the sponsorship side, Barcelona signed in March a long-term agreement with Spotify Technology SA to name its stadium after the music streaming giant. The club aims to raise more than 400 million euros, one of the people said. There are also plans to sell as much as 49.9% of Barça Licensing & Merchandising at a later stage. Management plans to sell another stake of the same size as soon as possible. 1 the sale of a 24.5% stake in its unprofitable Barcelona Studios, a content hub with capacity to build streaming services, to crypto platform for $100 million. Barcelona has managed to offset that through other sales and commercial agreements, one of the people familiar with the club said. That one-time boost, though, means the club will no longer receive 41 million euros per season from broadcasting rights. The club had sold 595 million euros of notes via a private placement arranged by Goldman Sachs last year.
For the agreement to go through, Barcelona had to repay 125 million euros to bondholders to compensate them, the people familiar said. San Francisco-based investment firm Sixth Street Partners bought 25% of Barcelona’s LaLiga media rights this summer in a transaction that will book the club a 667 million-euro gain. Instead, the club went solo and agreed to a 25-year deal with another finance company that didn’t dictate how much it could spend on players, repaying debt or investment. Last year, the club declined to take part in a deal between CVC Capital Partners and LaLiga to buy a stake in an entity controlling the broadcasting revenue of Spain’s top league for 50 years. They asked not be identified as the information isn’t public.Īn extraordinary meeting of Barcelona members, who own the club, approved in June the activation of what President Joan Laporta called the “economic levers” the club needs to dig itself out further of the financial hole. The club is expected to record a profit of about 100 million euros for the 2021-22 season, according to people familiar with the matter. That meant Barcelona was only able to sign new players by cutting the current squad’s wage bill, increasing income or lowering expenses.Īfter a change of leadership in March last year, the club started to take more drastic action by offloading players and looking for extra sources of income.
It also recorded a 481 million-euro loss and applied a 155 million-euro cut to first-team payrolls last summer. It reported debts and future liabilities of 1.35 billion euros, and had negative net value of 451 million euros in the 2020-21 season. The pandemic and an uncontrolled surge in costs for three years left the Catalan club teetering. Here is a look at how Barcelona is trying to rescue its beleaguered finances, and whether they are now viable.
Barcelona was the only club to be told by Spain’s top league that it had to spend less money on the salaries of new players than it freed up from selling them. When not working on a puzzle, David can be found reading his favorite daily comic strips.The comeback for a club that went from being a paragon of success to a byword for the unsustainability of the sport’s economics has raised eyebrows among its competitors as seasons get going in Europe. Additionally, David is a frequent attendee of crossword puzzle conventions and a respected tournament judge. He is the founder and director of the Pre-Shortzian Puzzle Project, a collaborative effort to build a digitized, searchable database of New York Times crossword puzzles dating back to 1942. David is also the author of two books of crosswords: Chromatics (Puzzazz, 2012) and Juicy Crosswords (Sterling/Puzzlewright Press, 2016). He was most recently the editor of The Puzzle Society Crossword. To date, David has had hundreds of puzzles published in the Times and other markets (Los Angeles Times, The Wall Street Journal, Daily Celebrity Crossword, The Crosswords Club, The American Values Club Crossword, BuzzFeed and The Jerusalem Post). At the age of 15, David became the crossword editor of the Orange County Register's 24 affiliated newspapers. David Steinberg published his first crossword puzzle in The New York Times when he was just 14 years old, making him the second-youngest constructor to be published under Will Shortz's editorship.
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