fright or death

Barcelona activated the levers last Thursday. And it seems that there is a feeling that everything is already fixed. And it is not. 700 members of the 4,500 with the right to decide what they did was sign a blank check to laporta to sell assets. Which? 25% of their television rights for 25 years, for 500 million euros according to what they said, and 49% of BLM, for between 200

and 300. But the authorization does not require that amount. Like the rich who stop at parties and then have to sell farms, cars, houses on the beach… Barcelona has to sell assets to pay for their past parties. But Laporta had to choose between fright or death. The reality is that the club will sell a quarter of the television rights at today’s price and that can mortgage them, because in the future they may be worth more. But also less. These two levers are going to mean to Barcelona that in exchange for the entrance of those possible 700, they will not enter annually what supposes 49% of the merchandising (30 of 60 million) and 25% of what it receives from television (43 of 170). That is to say, it is going to reduce its income annually by about 75 million from a budget of 650-700. Now you have the authorization of the partner, but you have yet to make the actual sale. And the dates press. You must do it before June 30 for the losses of the season that influence the Patrimonial Responsibility of the directors. And everything as soon as possible after August 31 (closing of the term) to be able to make signings. Until Barcelona enters, between levers and players, an extraordinary 700 or 800 million and leaves its exceeded salary limit (being at -200 and its staff cost at 540), the club cannot sign without going through the 1-4 rule or 1-3. It was and is fright or death. Better scare.

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fright or death