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Official: Barcelona board approve two major asset sales, €740 million boost expected

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Photo by LLUIS GENE/AFP via Getty Images

As reported by SPORT, the Barcelona board has decided to approve the sale of stakes in the Barça Licensing & Merchandising and the TV rights agreement with CVC, which is set to bring in a massive injection of funds to the tune of €740 million into the club.

Earlier today, the Barcelona board, led by president Joan Laporta, met at La Jonquera to discuss the next steps for the club in order to get out of the financial muddle that they found themselves in.

The Blaugrana are currently in no position to sign and register new players or extend contracts of players due to the economic situation being in shambles. However, they are now set to deal with the matter by ratifying two deals that will bring in huge investment into the club.

As per the report, the board has decided to ratify the sale of 49.9% stake in BLM, which is set to rake in an investment of around €200 million from a consortium formed by Fanatics and Investindustrial.

Barça had been working on the deal for quite some time now and it now seems to be set to go through, pending approval from the assembly. Although, the deal is unlikely to be completed before June 30, but the club have other means to get out of the financial mess by then.

Indeed, Barcelona are also set to bring in a huge investment of €540 million from the sale of up to 25% of the TV rights to one or more investors.

The La Liga-backed CVC deal looks to be in place, with the Catalans set to be sanctioned a €270 million loan at zero interest as equity in exchange for 8.2% of the profits generated from the audiovisual rights for the next 50 seasons.

On top of that, Barcelona have also negotiated a deal with Goldman Sachs to pump in €270 million for the broadcasting rights, although the details of the operation are not entirely clear as of now.

Barcelona have called for an Assembly on June 16 when socios will vote on the two proposals from the board to approve the operations.

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