Spanish soccer club FC Barcelona has financial troubles. But it hopes to fix that with plans to list its content creation unit Barca Media on Nasdaq.
The deal will be done via a SPAC merger that would value that business at $1 billion, according to Fortune.com SPAC, an acronym for special purpose acquisition company, is partnering with Swiss private equity fund Mountain Partners.
Existing Barca Media shareholders will hold a 80% stake in the SPAC company. The club’s goal is to get funding to create more sources of income, and Barca Media could become an “important source of revenue in the coming years,” FC Barcelona said in a statement. “The business incorporates substantially all of the digital content the club has produced over the past 20 years, targeting fans of all ages around the globe,” it said in a press release Friday.
A spokesperson from the club declined to comment. In 2021, FC Barcelona recorded a loss of €481 million ($527 million), and its debt continued to grow.
Read more on deadline.com
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