Barcelona shutting down Barca TV as cost-cutting measure
Barcelona will shut down the tv channel Barca TV on the finish of the season, the membership stated in a press release on Thursday.
Sources advised ESPN the cost-cutting act was associated to creating financial savings throughout the board to unlock cash to spend money on the taking part in squad, though Barca didn’t give any official causes for the closure.
– Stream on ESPN+: LaLiga, Bundesliga, extra (U.S.)
Over 120 staff, together with presenters, journalists and digital camera operators, will lose their jobs when the present contract with Telefonica, the corporate who oversee the operating of the channel, expires on the finish of June.
A supply says Barca are nonetheless deciding methods to finest economise in-house content material manufacturing transferring ahead.
The Catalan membership additionally nonetheless personal 51% of Barca Studios, which has produced documentaries previously however can be targeted on blockchain, NFT, digital belongings and Web3 methods.
Barca offered 49% of Barca Studios to 2 buyers final summer time for a complete of €200 million to assist fund the signings of Robert Lewandowski, Raphinha and Jules Kounde.
To be capable to flip to the switch market once more this 12 months, Barca as soon as once more want to save lots of as a lot as €200m — both by way of cutbacks or participant transfers — to adjust to LaLiga’s spending restrict.
Sources say exhaustive work is being performed to seek out methods to streamline the membership’s spending, which led to the choice to not renew the contract with Telefonica to proceed with Barca TV.
However, there’s additionally an acknowledgment that the most important financial savings might be made by releasing up house on the wage invoice and bringing in switch charges, with the membership open to gives for a number of first crew gamers.
ESPN revealed earlier this 12 months that Barca have already got a verbal settlement to signal defender Inigo Martinez as a free agent when his contract with Athletic Bilbao expires, whereas they’re additionally in negotiations with Manchester City midfielder Ilkay Gundogan, who has not renewed his contract on the Etihad and could be additionally accessible without cost in the summertime.
Earlier on Thursday, Barca vp Eduard Romeu defined how the membership would repay the €1.45 billion financing they’re taking out to fund the redevelopment of their iconic stadium.
Romeu stated that the cash could be repaid to the over 20 buyers who will contribute the funding solely with the income generated from the revamped stadium.
“It is not a debt, it is a ‘Risk Project,'” Romeu stated. “The financing will be paid off with the income obtained from the stadium. This project will not affect the club’s activity alone.”
Barca declare the regenerated Camp Nou will increase as a lot as €347m yearly, with income growing by way of conferences and occasions, hospitality, ticketing and catering, the museum, sponsorship and naming rights.
President Joan Laporta stated the stadium would be the finest on this planet when completed and that the funding raised proved the membership is “alive” after a number of seasons of monetary struggles.
“This is the most important institutional project in the club’s history,” he stated. “It fulfils a dream at Barca. We are going to have the best stadium in the world.
“The venture can be proof of the religion in Barcelona. It signifies that the establishment is extra alive than ever and that nationwide and worldwide markets have full confidence in us. Barca have been bolstered.”