Barcelona still waiting on payments for asset sales as stock market deal in jeopardy

Barcelona were due to go on the American stock exchange market NASDAQ this year, but that deal is in jeopardy, as payments continue to stall.

In August Barcelona resold 29.5% of their image rights subsidiary Bridgeburg Invest, which controls Barca Vision and the income from image ditribution. That deal was in exchange for €120m, and came after Orpheus Media and Socios, the original buyers, did not pay the full amount they were expected to on time, only footing the initial payment of €60m.

Libero and NIPA, the new buyers, were due to pay €60m by the end of August, and put up an initial €20m several weeks after the deal, but Barcelona are still waiting on the remaining €40m. Sport say that it will be used in part to pay President Joan Laporta and Director Ferran Olive back for the bank guarantee they put up so that Barcelona could register Joao Felix and Joao Cancelo. The rest will be destined towards new contracts for Gavi, Xavi Hernandez and his coaching staff.

Any remainder will be put towards bringing forward their deal to sign Vitor Roque in January, who is currently scheduled to join for €30m plus €31m in variables in July of 2024. However there is increasing frustration with Libero, and it is not ruled out that Barcelona look for what would be a fifth investor in their subsidiary in the space of less than 18 months.

MD add to that report, saying that Barcelona and the German investment fund have send a note to NASDAQ regulators altering the terms of their deal, so that Barcelona can break off the agreement at any moment. The new limit they have set Libero is the 10th of October, little less than a month away. That said, Libero faced no consequences for missing their initial payment dates, as was the case for Socios and Orpheus Media.

Barcelona had intended to take Barca Media to the stock exchange this December, via a Special Purpose Acquisition Company with Mountain Ventures, a Swiss venture capitalist firm. Yet if the money does not arrive from Libero, it could mean that Barcelona have to scrap the plans altogether.

Barca Vision has been valued at around €1b in value, with 20% for Mountain Ventures and 80% for Bridgeburg Investment. With a combination of Libero, NIPA, Orpheus Media and Socios all owning 49.5% of Bridgeburg Investment, and Barcelona owning 50.5%, Barcelona may see their profits rise considerably, but their share of the profits will have dropped from 100% a little over two years ago, to 40% if the stock exchange deal goes ahead. The deal is still subject to approval from club members.