FC Barcelona set aside 150 million of its own money to inflate the selling price of the first two cranes: selling 25% of the TV rights to Sixth Street. This is why Barcelona officially claims to have sold the first two cranes for 667, while Sixth Street only paid 517. Where are the other 150 million? Barcelona put them. Is it legit? For any reason? Do your partners know the truth?
Before going into these details, a simple but instructive example. Imagine that I have a motorcycle. They will cancel my credit card if I don’t prove to the bank that I have a balance of €1,000. My friend Luis bought the motorcycle for me but he only gave me 850 euros. So I say to him: Let’s partner the two of us to use the motorcycle and call it “Motorcycle Friends.”
Allow you to use 25% of the week for 850€. And with the 850, I put 150 more and I already have 1000. I deposited them in the bank and can already say that I sold the bike for 1000 euros to “motorcycle friends”. And my friend Lewis says: There you are with your accounts and your bank, but I pay you only 850.
As you know, Barcelona claimed that LaLiga accepts to sell Barcelona the first two cranes for 667 million, but LaLiga said that it accepts only 517.
Barcelona had made a confused and confusing official call to the operation: “Sixth Avenue invests 517, which will result in a capital gain of 667”. Later, Laporta said in Manhattan that “667 were counted” and “he hoped there were no differences in interpretation with LaLiga.” 150 million more or less in fair play for engagements is outrageous. For you to understand: For the purposes of fair play, in the season, what is consumed approximately (salary + consumption) by Lewandowski (33 million), Ravenha (23) and Conde (22) is about 80 million. Whether you can count on those 150 or not, the difference is, for example, not having to sell the other two cranes 49% of Barça studios for 200 million. So Barcelona carried out a strange process similar to the previous example.
1.- The sixth street appears in the life of Barcelona. Sixth Street has already had a business relationship with Real Madrid and Joan Laporta and Florentino are linked and united on the SuperLiga front.
Sixth Street was brought in by Key Capital, whose founders are Borja Prado and Anash Laghari, the last general secretary, representative of the Premier League and someone who has had close personal relationships with Florentino Pérez for many years. The last frame of Florentino indirectly helping his enemy to cement himself with Lewandowski is amazing. The curious connection between business friends and sporting foes As we shall see, Laporta made a good profit staying as Florentino’s partner in the Superliga. Another thing is what Real Madrid fans think.
2.- Barça and Sixth Street have created a subsidiary called LOGKSLEY INVESTMENTS S.L. They both own 50%.
3.- Barcelona sells its TV rights for life to the said company.
Sixth Street only buys television rights for 25 years and for the sum of 517. Barcelona is putting another 150 of its money (of the 517 it receives from Sixth) to buy its television rights, from the 26th annual installment (year 2048) onwards.
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4.- Barcelona receives 667 from LOGKSLEY Investments for 25%. But what’s the point?
Of these 667, 150 were placed by Barcelona itself.
5.- This operation was accepted by Barcelona by the new audit firm Grant Thornton, forcing the subsidiary to enjoy lifelong rights.
6. – What are the three objectives of Barcelona in this elusive legal maneuver?
a) Try to get LaLiga to accept a 667 deposit for the purposes of fair play. But in the League they said no. Because Barcelona received only 517 million “new”. Not so lucky with the explanation. This forces them to hastily sell the other two wingers (because LaLiga starts on August 12th) for another 200 million. Cranes aren’t magic: they’re heritage selling.
LaLiga does not conflict with Barcelona or its auditor Grant Thornton for the purposes of its internal accounts, information provided to its partners and accounting creativity to show that they received $150 million more from the sale of assets when it did not. the case. But in terms of economic control and fair play, this is where the League hasn’t swallowed up.
b) An exceptional artificial income of 150 million is calculated in the income statement for the 21/22 and 22/23 seasons. Let’s remember that the first lever was sold on the last day of the year end for 207, although Barcelona said it was for 267 and Barcelona positioned themselves
The next crane is sold after July 1 (new season 22/23) for 310 million, although Barcelona says it’s for 400. The other 90 are set by Barcelona.
It is technical but for legal purposes, Barcelona includes 150 million financial investments in its balance sheet assets that will be amortized over 25 years, but it managed to obtain an exceptional income of 150 million in the two seasons so as not to incur losses.
This move to Barcelona would cost a significant bill financially. Let’s remember that in corporate tax, 25% is paid to the IRS for profits. Barcelona will say that these 37.5 million taxes will be offset by losses from other years (tax credit), but the truth is that they will always have an additional 37.5 million taxes to pay.
c) Barcelona closed its accounts on June 30, 2021 with a net negative of €450 million. With income from 717 from the four levers + that’s an artificial 150 million, Barcelona will be very close to offsetting his negative net worth (other than debt) in June 2023. But he will improve his net worth by 150 kilos of his own money. The question now remains whether Barcelona should explain this process to its members in an extraordinary assembly.
Barcelona literally asked for a mandate to “assign to one or more investors up to 25% of the income from the exploitation of LaLiga-compatible television rights and/or obtain financing based on the above television rights”.
The council approved it by a large majority. But there was no talk of Barcelona contracting themselves, taking money out of their pockets to inflate the sale of said rights, and creating an accounting apparatus that made it appear that they took 150 million more than the real money they had. This is really a question of Laporta, its board of directors, the margins of transparency and calmness in Barcelona, whether you want to explain it to your partners or not.
The fact is that the gap in which Barcelona had a salary limit of -144 million, when its real cost was around 560, forced Barcelona to sell assets and the future income of the mortgage to enter already 717 million euros with the sale of 25% of the TV rights. For 25 years and 49% of Barça Studios Forever (NFTs, Tokens, Metaverse & mldr; etc). However, after these four levers or four sales of strategic assets, after leaving Trincao, Coutinho, Lenglet, Riqui Puig and mldr; etc., contracts and renewals made, Barcelona still can’t score everyone. It can score almost all of them, but still has to make more checkouts from Neto, Memphis, and mldr; etc. To be able to score one of the 3-star deals of the season. He closed it down after a great sacrifice.