MADRID, 9 Oct. (EUROPA PRESS) –
The compromising partners of FC Barcelona have approved by an absolute majority the liquidation of the 2021-22 financial year and the budget for the current season during the Ordinary General Assembly this Sunday, in which the second transfer of television rights and assets of Barca Studios.
In the second item on the agenda, the compromising members ratified the agreement to sell 10% of the club’s audiovisual rights to the US fund Sixth Street Partner, corresponding to the first ‘lever’, with 91.34% of the votes -591 votes in favor, 38 against and 18 blank-.
The club’s economic vice president, Eduard Romeu, explained the details of the operation of this sale of 10% of LaLiga Santander’s television rights for 25 years, with a repurchase option in favor of the club to recover the shares and therefore TV rights. This operation has generated revenues of 267 million euros, of which the club receives 207.5 million in cash from Sixth Street.
Regarding the form of payment, 190 million euros will be made at the time of closing; 29.5 million were paid on July 15; and 47.5 will be paid the same day next year. “The club has shown that it has the capacity to enter international markets. The club has a name, value and prestige and generates trust. All this has made it possible for the operation of the television rights to have been cheaper than if it had been carried out jointly with all the LaLiga teams,” Romeu highlighted.
In addition, the liquidation of the 2021-22 financial year was approved with 89% support -548 votes in favor, 43 against and 24 blank-, which has given benefits of 98 million euros, with an income figure of exploitation of 1,017 million euros and 856 million euros of expenses.
On the other hand, the partners gave the go-ahead to two other ‘levers’, the transfer of 15% to Sixth Street with 90% of the votes, and the transfer of 49% of the assets of Barça Studios and digital assets to Socios.com and Orpheus Media -with 24.5% in each-, with a support of 87.28%.
The vote on the budget for the 2022-23 season, which includes revenues of 1,255 million euros and profits after taxes of 275 million, resulted in 90.5% approval, with 478 votes in favor, 35 against and 15 blank.
These revenues of 1,255 represent a historical record in turnover for the club thanks to the sale of 15% of LaLiga’s television rights relating to the first men’s soccer team for an amount of 400 million euros. In addition, the club plans to improve the rest of the its income by 105 million euros compared to the 2021-22 financial year.