Barça’s assembly overwhelmingly endorses Laporta’s sale of assets

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Joan Laporta he has gotten away with it. It already has the endorsement, a majority endorsement of the assembly of compromisers carried out electronically, with 830 partners to sell assets “for a value of at least 600 million euros” and get Barça out of economic ruin because it is in a “bankruptcy” situation.

He is already the owner of the ‘levers’, a term coined by the president himself, who must activate the club in the coming weeks to have the financial resources (“between 200 and 300 million for the sale of 49.9% of BLM” , according to Laporta, and 400 million more for television rights) suitable for Xavi to pilot the reconstruction of the team.

“We don’t have money to sign. We must get at least 600 million euros. Of course we wouldn’t like to do it, but we can’t play the violin while the house is burning”, Laporta said, indicating that the club “could leave of that bankruptcy” in which it finds itself right now.

In the first vote, the sale of a minority stake in BLM, 568 members (84.6%) voted in favor, 65 against and 13 blank. And in the second, corresponding to television rights, the Laporta board also obtained massive support among the 586 delegates who exercised their right: 494 (84.3%) votes in favor, 62 against and 13 blank.

“We don’t have money to sign. We must take out at least 600 million euros. Of course we wouldn’t like to do it, but we can’t play the violin while the house is burning”

Laporta, president of Barça

In this sense, the president recalled that it is a very advantageous agreement because the agreement of Joseph Maria Bartomeu with the sale of Barça Corporate it was for 200 million, but “it included four companies: BLM, Barça Studios, Academies and Barça Innovation Hub”.

In the fifth assembly in less than a year, the partners made an act of faith with Laporta and his board, forced to “sell assets” so as not to close the course on June 30 with losses, which would be the fourth in a row. But now, supported by the response of the compromisers, the leader can now deploy his financial plan. “The two levers were necessary,” Laporta maintained.

“This will allow us to clean up the economy at a time of maximum difficulty and will make us grow in our lines of business”, said the Barça president, happy to have his “levers”, leaving the door open at all times “to buy back” within this same mandate.

Four bids for BLM

“The offers are between 200 and 300 million. We value BLM at 700 million,” said Laporta in reference to the sale of 49.9% of the retail company. “Right now we have collected 55 million for this season and the next will be 110, so the entry of that partner will give us vitamins to run.”

“The offers for 49.9% of BLM are between 200 and 300 million. We value the company at 700 million”

Laporta, president of Barça

Barça, as Laporta recalled, has “four offers” on the table. “We are negotiating with them, adjusting within the company which assets will be part of it and the investor will have 49.9% if he pays between 200 and 300 million. If not, we cannot do it,” acknowledged the leader, who believes that ” shortly” the agreement with the chosen investor will be announced.

“We found a Formula 1 car, without gasoline and with a seized engine”

Laporta, president of Barça

A survival plan to cushion such a dramatic situation. “Now I will make a different simile. We found a Formula 1 car, without gasoline and with a seized engine”, revealed the president of Barça, who later explained that with the first measures adopted “we managed to start the car, but it did not roll” .

The conversion into a Sports Public Limited Company (SAD) is not contemplated under any circumstances. “As long as I am president, Barça will continue to belong to the members and partners. We work to preserve that property”, stressed the leader, indicating that the club “will be able to make the necessary investments so that our teams are more competitive”.

“As long as I am president, Barça will continue to belong to the members and partners. We work to preserve that property”

Laporta, president of Barça

In that sense, Laporta, and “following the simile of the car”, has advanced that once the “financial levers are approved, it would then allow them to go to the pits and then enter the track” because Barça wants to continue being strong to “compete against clubs- State” because it has the necessary energy “without losing our independence and without losing our ownership and governance model”.

“Seek Positive Funds”

In that speech, he begged the delegates to extend their vote to him as an act of faith. And he got it. At the beginning there were 636 partners of the 4,478 summoned. That is, 14%. Then there were 830 and 671 participated in the BLM sale vote.

Everything to get “positive own funds” because Barça now has, as Laporta recalled, “500 million in negative funds.”

“I don’t want to look back, I want to look forward. I want to make a profit this season after three years of losses. We have come to clean up Barça’s economy in the shortest time possible and without endangering the future of the club. We will do it ourselves without resorting to other operations because they wanted us to be supervised and controlled,” Laporta indicated.

“We will not ask you for any spillage because you are not to blame for what has been done before. No fault at all”, the president specified, addressing the delegates, after emphasizing that in both operations (the sale of 49.9% of BLM and 25% of television rights in the next 25 years) are essential. Just before finishing his initial speech, which lasted 15 minutes, Laporta raised the tone. “Not even with all the money in the world will anyone be able to buy our essences and our history.”

Then, the president, already responding to the delegates who left their questions electronically, indicated that “there is a business plan so that in the next six years they reach 1,200 million euros.” In addition, Laporta has stressed that he expects to obtain “200 million for 10% of the television rights.” So when 25% is sold, the club hopes to obtain a total of 400 million. As minimum.

In this regard, the leader recalled that Barça has collected “165 million for the television rights of the League” this season, while with the new investment partner it would obtain “200 million for every 10%” emphasizing that the club is “in a limit situation” that required activating those two levers “to get out of the well because if we do nothing it will lead us to not being able to compete with the top clubs. And the combination of the two levers helps us to clean up the club”.

Related news

The directive manages, as explained by Eduard Romeu, Barça’s economic vice president, several “proposals” from investors willing to buy up to 25% of the television rights. “It is essential to close this year 21-22 without losses,” said the leader, insisting on the need to end profits. “And this lever, to use this word, is the one that brings us closer because it is the one that has the most proposals.”

In this aspect, Laporta has confessed that “90%” have advanced negotiations with an investor for “10% of television rights”, which would allow Barça to close this financial year with benefits, the first in four years .



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