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Official: Barcelona approve sale of 49% of BLM, €300 million boost expected



Photo by Mike Hewitt/Getty Images

With the club in dire need of funds in order to cut back the massive losses and properly strengthen the squad ahead of next season, Barcelona are expected to rely on sponsorship deals and player sales to generate the much-needed revenue this summer.

Barça have already completed a sponsorship deal with Spotify. They were further given the opportunity to sign another lucrative deal with CVC Capital, but the club have appeared reluctant in penning the contract.

It has forced Joan Laporta to search for alternative ways of generating revenue. One of the proposed methods is the sale of BLM – Barça Licensing & Merchandise.

The board has devised a way to potentially generate €300 million by selling 49% of BLM to interested parties. But the motion needed to be voted before the large chunk of the shares can be auctioned off to potential suitors.

In an assembly vote conducted on Thursday evening, the Barcelona board members have authorised the sale of BLM, with a large majority of the members of voting in favour of the sale.

568 people, in total, have voted in favour of the motion whereas 65 of them have voted against the sale. There were 13 blank votes.

The overwhelming majority means FC Barcelona are now authorised to sanction the sale of 49.9% of BLM, in an attempt to boost the club’s economy.

Barcelona have recently received an offer of around €200 million, plus €75 million in add-ons for BLM. But the offer was rejected by Joan Laporta, who is holding out for better offers from other interested parties across the world.

The successful sale of BLM could go a long way in helping Barça balance the books and receive a much-needed financial boost in their pursuit of top targets such as Robert Lewandowski, Raphinha and Cesar Azpilicueta, among others.

Source: Barça Twitter

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