Barcelona still can not register their summer signings after La Liga rejected an attempt to use the club’s own finances to inflate the value of two of the asset deals they had resorted to in order to balance the books and strengthen their platoon.
The intention now is to turn to a fourth source of extraordinary income with the trade of a further 25 of their content product company, Barça Studios, for an estimated€ 100m in the stopgap that it’ll allow them to include new advents similar as Robert Lewandowski, Andreas Christensen and Jules Koundé in the team for their opening game against Rayo Vallecano on Saturday night.
Barcelona had reckoned for benefits of€ 667m(£ 562m) from the trade of two packets of unborn TV rights and had hoped that would help enable them to misbehave with La Liga’s fiscal show play rules. They also blazoned the trade of just under 25 of Barça Studios, the third of the so- called “ palancas ” or profitable “ regulators ” they had pulled this summer. In total, including a new backing deal with Spotify, the departure of players and increased profit, Barcelona said that they had brought in further than€ 850m as they seek to ameliorate their team and fix a fiscal extremity.
But the league’s inspection set up that the quantum Barcelona had entered directly from investors Sixth Street for two television rights packages of 10 and 15 independently was only€ 517m. The remaining€ 150m had been paid by the club itself, according to the Spanish radio station Cadena Cope. The operation is legal, cleared by the club’s adjudicators Grant Thornton, but the league has recalculated the benefit on the base that€ 150m of the quantum isn’t new income.
Having spent more on transfers than any club in Spain and not yet managed to reduced their payment outgoings sufficiently, that leaves Barcelona still short of the threshold where they can register all their players with La Liga.
Rather than vend those packages directly to Sixth Street, Barcelona set up a adventure called Locksley Investments, Cope said. That company bought the club’s television rights on a endless deal, with Sixth Street buying the two packages over the coming 25 times. Barcelona also spent€ 150m of its own plutocrat to buy the rights from the 26th time. That enabled the overall account value of the deal to be larger now, publicizing two deals, the first for 10 of the club’s La Liga TV rights over 25 times, the alternate for a farther 15.
When the alternate deal was finalised, they blazoned that the club would admit€ 315m incontinently and that the operation would affect in a benefit of€ 400m. Barça president Joan Laporta had also expressed his stopgap that the league would partake their interpretation of the criteria. It has not.
Barcelona are unhappy with the interpretation applied. The league has strict fiscal show play rules – the “ payment limit ”, grounded basically on a computation of income against the cost of the team – which rather than being corrective is precautionary if a club’s outgoings on its team exceeds the limit set by the league, an automated system simply doesn’t allow them to register players.
Laporta had said he hoped not to have to turn to a fourth switch, although the board had formerly approved that move should it be necessary, which it now appears to be. At members ’ assemblies this spring and in the afterlife his administration, which inherited a grave fiscal extremity, had preliminarily been given authorization to vend a chance of unborn television rights( up to 25 for over to 25 times), Barca Studios and 49 of the club’s licensing arm BLM. The ultimate has not happed as yet.
Barcelona continue to try to move players on, with the implicit departure of Frenkie de Jong particularly significant because of the size of his payment and amortisation. They’re negotiating payment reductions with elderly players and club captains Gerard Piqué, Sergio Busquets and Jordi Alba and intend to make further signings.