Barcelona could slip out of their financial straitjacket today, if their members allow it. If they do, they would be able to sell off several chunks of the club quickly and for a high price....CONTINUE READING
At 6.30pm local time in Barcelona 4,478 senior ‘socios’ (members) will decide if the club can go ahead with plans to sell just under half of its retail arm, Barça Licensing and Merchandising, and cede quarter of TV rights revenue over the next 50 years to an investment fund.
If the confidential online vote gives the green light to president Joan Laporta’s plans the club believe it will generate between €500m (£427m) and €700m (£598m) with the sales and that could mean they can sign freely this summer without being tied to the 4:1 rule which currently means that to spend a euro, they have to generate four.
If the deals to sell half the retail arm and cede TV rights brings in €700m, as has been suggested it could, that will swing the club’s salary cap from €144m (£123m) in the minus (as it currently stands) to something closer to €550m (£470m) in the positive.
That would still be above their current wage bill set at 560m (£480m) euros. So they would remain stuck with the 4:1 rule.
But if they also reduce the wage bill (and the closer the sum of money raised is to 700m euros the less they will need to cut the wage bill by) then they will be clear to buy and sell normally.
Such a breakthrough would mean they could sign Robert Lewandowski and register without problems new signings such as Andreas Christensen and Franck Kessie.
Other signings would remain in limbo, however, because this will by no means be the starting gun for the club to rush into market and begin throwing money around as they were guilty of doing under previous president Josep Bartomeu.
They like France defender Jules Kounde but they cannot match Chelsea in terms of wages and he will only arrive at the Camp Nou if his desire to come is sufficient for him to earn close to half what Chelsea are offering in terms of salary and if a big earner is moved on.
Likewise the arrival of another midfielder, Carlos Soler or Manchester City’s Bernardo Silva will still depend entirely on whether Frenkie de Jong leaves. And the arrival of Cesar Azpilicueta could still hinge on Chelsea allowing him to leave for nothing, which looks unlikely.
Lewandowski is the poster boy of Thursday’s vote. It was no coincidence that Diario Sport’s front page on Thursday was the story of another offer made for him.
It served as a reminder to the members of what’s at stake. If the fans say ‘yes’ then the Bayern Munich striker will be easier to bring to the club this summer.
Lewandowski is currently on his summer holidays in Mallorca where he owns a home. Diario Sport’s Ivan San Antonio has reported that he has no intention of joining up with Bayern for their first pre-season training session on July 8, nor of being on the plane to the US for the club’s pre-season tour on July 18.
He wants to sign and if Barcelona can meet Bayern’s €40m (£34m) asking price then it will happen if today’s vote goes and the money comes in quickly.
Laporta has what he hopes will be a compelling and convincing speech prepared before the vote. A consortium of two merchandising giants, Fanatics and Investindustrial appear to be the buyers of the retail arm, for around €280m (£240m).
The identity of the investment fund set to buy 25 per cent of future TV rights is less clear. What does seem certain is that it will not be CVC, the investment fund that have partnered with all other LaLiga clubs aside from Athletic Bilbao and Real Madrid.
The club rejected signing up for LaLiga’s project because there were limits on what portion of the 270m euros (for 10 per cent of future rights) could be spent on players, and the money counted as new debt not new investment.
However the vote goes, the club still wants and needs to drastically reduce the wage bill and almost everyone remains up for sale at the right price, with Frenkie de Jong still the player they believe it is most feasible to get off the wage bill this summer.
If Barça fail to raise their new salary cap to above that of their current wage bill then the attempt to get big earners out of the club becomes even more desperate.
They will still be tied to the 1:4 rule meaning they would need to shave €120m (£102m) off the wage bill to be able to spend €30m, or €40m in the case of the player being moved on being one of the top 5 per cent of earners allowing them to apply a 3:1 instead of a 4:1 ratio.
Laporta hopes supporters will help makes things less complicated for the club by waving through the proposals. He has had recent successes with these votes.
Members gave a thumbs up both to accepting Spotify as a shirt and stadium sponsor, and okaying a new credit of €1.5bn to help pay for the renovation of the Camp Nou.
