Spanish football giants, Barcelona have approved the sale of a minority stake in their licensing and merchandising division, as well as ceding up to 25 per cent of income from their LaLiga TV rights.
Of the delegate members representing fans, 88 per cent voted in favour of selling a 49.95 per cent share in Barca Licensing & Merchandising (BLM), with the club retaining a repurchase option.
Eighty-seven per cent of accredited members supported the move to cede up to 25 per cent of LaLiga TV rights income to one or more investors, and or obtain financing based on the rights.
Barca said they expect to earn around €600 million from the deals, which help to shore up the club’s finances, ensuring it can finish the financial year without losses and increase their spending limit.
Barca’s debt spiralled to €1.35 billion last year and they are also pushing ahead with the redevelopment of their Camp Nou stadium, which is projected to cost in the region of €1.5 billion. The club posted a loss of €481 million after tax for 2020/21.