Barcelona activates the sale of ‘grandma’s jewels’

Barcelona activates the sale of ‘grandma’s jewels’

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01 Jun 2022
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Nick
barcelona

The situation

Barcelona confirmed between supermarket carts, children’s attractions, queues of families ready to destroy the Free Buffet, an Eiffel Tower of ñiguiñogui and buses of French citizens who, like every day, expressly arrived at a Jonquera shopping center in search of alcohol and tobacco at half price (property, by the way, of a Barça manager), the most decisive decision in its recent history. A brave bet in the least suitable possible scenario, according to which the club chaired by Joan Laporta is risking its immediate future: selling the grandmother’s jewels to be able to stay in the apartment and pay debts. To carry out this operation, which in any family implies the verification that it is closer to eviction than to moving, the club must ask the members for permission. Like when the children are gathered to tell them to forget about the inheritance. The meeting for the Barcelona family to give the green light for the sale has been called for a working day (Thursday, June 16) during working hours (6:30 p.m.) and the issues to be discussed are no small thing: The permission to sell the 49 per cent of the club’s division that deals with the commercialization of the entity’s merchandising (BLM) and the permission to put up for sale 25% of the television rights to one or more investors in order to obtain sufficient liquidity to start the urgent renewal process that the first team needs.

Inside CVC

How there was no press conference in the busy Girona shopping center to explain the details of one of the most serious decisions (despite the context) in the club’s recent history, what has transpired is that yes, Barça signs up for CVC To the delight of Javier Tebas and the anger of Florentino Pérez, because this decision will most likely lead to the resignation -in addition to a fatal injury- of the Superliga project. Barcelona joins CVC in two phases. One, which is certain, will be to accept the same terms as the rest of the teams, but one option remains, hence the 25% of the rights instead of 10% like the rest, to create a partnership with CVC and Goldman Sachs and increase the business in terms in which the rest of the LaLiga teams cannot complain. A way forward that unravels a desperate situation, but without the grandmother’s jewels. If all goes well, new ones can be purchased.

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