Barcelona are still unable to register their new summer signings after La Liga rejected an attempt by the club to use its own funds to inflate the value of two of the asset they had sold in order to balance the books.
The La Liga giants had sold some of their TV rights in a bid to secure the funds that will help them to strengthen their team. But the value they have gotten from the trio of deals is not enough to allow them to register their new players, which includes Robert Lewandowski, Raphinha, Jules Kounde and Andreas Christensen.
They now intend to turn to the fourth source of extraordinary income by selling a further 25% of their content production company, Barça Studios. The deal is expected to fetch them an estimated €100m and should allow them to register these players in time for their opening game against Rayo Vallecano on Saturday night.
An accounting report by Barcelona claimed that they had received €667m (£562m) from the sale of two packets of future television rights. The Camp Nou side also reported the sale of just under 25% of Barça Studios, the third of their economic “levers” and a new sponsorship deal with Spotify, plus the departure of players and increased revenue, had brought them in more than €850m.
However, an audit by La Liga has shown that the amount Barcelona had received directly from investors Sixth Street for two TV rights packages of 10% and 15% respectively was only €517m. The remaining €150m reported in the club’s accounting had been paid by the club itself.
According to the Spanish radio station Cadena Cope via The Guardian, La Liga has recalculated the benefit on the basis that €150m of the amount is not new income despite Barca’s accountant Grant Thornton seeing it as legal.
As a result, Barca will still not be unable to register their new players as doing so will mean that they will break La Liga’s financial fair play rules.
The Spanish side has spent more on transfers than any club in Spain but have not yet managed to reduce their salary outgoings adequately.
It remains to be seen how they will come up with the extra money they need to meet the threshold to register new players before the La Liga season begins this weekend.
