Debt-ridden Barcelona sell off assets for new signings

Barca spent 153 million euros on transfer fees alone to strengthen their squad.

A year after being forced to let Lionel Messi go, Barcelona is selling assets to sign new players.  Barca spent 153 million euros on transfer fees alone to strengthen their squad. Robert Lewandowski is the latest arrival in the Spanish club.

“This is a really exciting season. Nothing would give me more pleasure than to make all fans happy,” coach Xavi Hernandez said. This was during last week’s 6-0 friendly win over Mexican side Pumas UNAM.

Faced with limits on spending to comply with La Liga’s financial controls, Barcelona needed to raise money quickly to be able to invest in any signings. They sold assets to bring in money by activating economic “levers”. The club sold 25 per cent of their domestic television rights to US investment firm Sixth Street for 400 million euros.

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Barcelona sold 24.5 per cent of Barca Studios to Socios.com for 100 million euros on August 1. They send another 25 per cent to US investment firm GDA Luma for 100 million euros. Barca also signed the biggest sponsorship deal in their history with Spotify, bringing in a reported 435 million euros for the music streaming giant to feature on the club’s shirts and to have naming rights.

 

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