A silhouette of a girl walks previous at the back of a FC Barcelona’s brand at Camp Nou stadium in Barcelona, Spain, March 24, 2016. REUTERS/Albert Gea/Report Photograph
MADRID, Aug 11 (Reuters) – Spanish football membership FC Barcelona mentioned it’ll listing a brand new $1 billion content material introduction trade referred to as Barca Media on Nasdaq, thru a merger with a so-called clean test corporate.
Barcelona’s president Joan Laporta, who was once re-elected in 2021 to guide the membership out of an institutional and monetary disaster, has been having a look to broaden new avenues to generate further income and has introduced in new sponsors.
The membership mentioned the maintain special-purpose acquisition corporate (SPAC) Mountain & Co. I Acquisition Corp (MCAA.O), which should nonetheless be licensed via membership participants and the SPAC’s shareholders, will carry new capital right into a trade it expects to be a very powerful supply of long term income.
A SPAC is a indexed entity that merges with a personal company to take it public. Such shell firms assist firms keep away from the longer course of an preliminary public providing (IPO).
Topic to approval via the U.S. inventory marketplace regulator, Barca Media would get started buying and selling on Nasdaq after the merger deal closes within the remaining quarter of this 12 months, Barcelona mentioned.
Present shareholders of Barca Media, a brand new emblem that may mix the virtual trade of current emblem Barca Imaginative and prescient with all audio-visual content material, will retain an 80% stake within the media trade, assuming not one of the Mountain’s shareholders redeem their stocks and no additional capital is raised.
The membership additionally mentioned funding price range LIBERO Soccer Finance and NIPA Capital purchased a blended 29.5% stake in Bridgeburg, the maintaining company that owns Barca Imaginative and prescient, for 120 million euros ($132 million).
LIBERO, which advises soccer golf equipment in the hunt for to procure financing, mentioned in a separate observation it had received a 9.8% stake in Bridgeburg for 40 million euros.
Spanish football golf equipment now have to fulfill a wage cap so as to check in new signings in addition to the ones gamers who signal contract renewals. Ultimate 12 months, Barcelona resorted to promoting membership property so as to create the margin had to fulfill LaLiga.
Barcelona won’t play at its out of date Camp Nou stadium, its largest supply of source of revenue, over the following few seasons after agreeing a financing deal value 1.45 billion euros to redesign it.
Reporting via Niket Nishant and Pritam Biswas in Bengaluru; further reporting via Corina Pons and Fernando Kallas in Madrid; modifying via Krishna Chandra Eluri, David Latona and Alexander Smith
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