FC Barcelona has agreed to pay $102 million to blockchain-based fan engagement business Socios.com to sell a 24.5 percent ownership in Barca Studios, the club’s media production division.
The La Liga team, which declared $1.56 billion in debt in October 2021, will be able to improve its financial situation and participate in the player transfer market by selling a share of Barca Studios. Barcelona’s economic vice president stated in June that the team needs $535 million to avert financial ruin.
Following Barcelona’s June agreement with private equity firm Sixth Street to sell a 10% part in its TV rights in a deal worth up to $278 million, the city has now reached a deal with Socios.com.
After reaching an agreement with Sixth Street to sell an extra 15% of its media rights for a reported $327.5 million, Barcelona increased its shareholding to 25% in July.