Barça assures that the complex financial operation that must conclude with the listing of its subsidiary Barça Media on the US stock market continues despite the fact that one of the new partners has not disbursed part of the committed money on the scheduled date. According to the club sources consulted, that partner, the German investor Libero, has until the month of October to make the disbursement of the pending amounts effective, and if it has not been done yet it is due to administrative issues that they hope to have resolved by the end of this month. , for which they have requested an additional period of one month.
The club chaired by Joan Laporta considers that the operation is positive for the entity and wants to move forward and in the initial agreement it was already contemplated that there could be deferrals in the payment schedule. In any case and as a precautionary measure, the entity has communicated the fact to the regulator of the New York Stock Exchange, according to El Confidencial.
The sports entity has included a new clause in the agreements with the other investors involved which states that in the event that Libero does not make the contribution, the process to be listed on the Nasdaq, the technological index of the company, may be withdrawn. New York Stock Exchange, without this implying non-compliance with agreements or penalties.
The current shareholders of the company that will end up giving rise to the future Barça Media is made up of the club itself, which holds 51% of the capital; an unidentified investor who is protected by a company domiciled in Cyprus, with 19.7%; Socios.com, a firm dedicated to the commercialization of digital currencies, with 17.1% Libero Football Finance Ag, with 9.8%; and Orpehus Media, owned by audiovisual businessman Jaume Roures, with 2.47%.
The aforementioned German company Libero, which is the one that has not complied with the scheduled payment in August, acquired its package by comparing partners, such as Orpheus, 4.9% each, for an amount of 40 million euros. He disbursed the first 20 at the time of signing the agreement, on August 11, while he promised to pay the remaining 20 on August 21. This last payment has not yet occurred. Barça is the one who receives that money because the previous investors, Socios.com and Roures, did not manage to disburse it for the purchase of their shares.
Libero is a German company dedicated to providing financial advice to football teams and whose management team includes former managers of clubs such as Manchester United, Chelsea and several from the German Bundesliga.
The search for investment partners for the stock market project of Barça’s audiovisual subsidiary, which in turn must serve to shore up the club’s accounts and satisfy the economic criteria to comply with the financial regulations (fair play) of the Spanish League, is proving to be quite random.
First, the initial shareholders who were supposed to accompany the club, Socios.com and Jaume Roures, backed out of the project by selling a good part of their participation even before having disbursed a good part of the money.
However, given that this calendar is now impossible, the company in which Barça Media will be dissolved, an instrumentality that is already listed on the stock market called Mountain and Co. based in the opaque tax haven of the Cayman Islands, celebrates tomorrow a virtual shareholder meeting to extend that deadline. Although, in theory it would also be possible for some of the investors in that company to withdraw their funds. In fact, such a thing has already happened in the past. Last June, Mountain, which is linked to a company of the same name in Sant Gallen, Switzerland, famous for being the headquarters of thousands of companies due to its anorexic taxation for companies that operate outside the country, had 132 million of its investors , almost half less than six months before, to use his operation with Barça.
Barça assures that the complex financial operation that must conclude with the listing of its subsidiary Barça Media on the US stock market continues despite the fact that one of the new partners has not disbursed part of the committed money on the scheduled date. According to the club sources consulted, that partner, the German investor Libero, has until the month of October to make the disbursement of the pending amounts effective, and if he has not done so yet it is due to administrative issues that they hope to have resolved by the end of this year. month, for which they have requested an additional period of one month.
The club chaired by Joan Laporta considers that the operation is positive for the entity and wants to move forward, and in the initial agreement it was already contemplated that there could be deferrals in the payment schedule. In any case, and as a precautionary measure, the entity has communicated the fact to the New York Stock Exchange regulator, as reported by El Confidencial.
The sports entity has included a new clause in the agreements with the other investors involved which states that in the event that Libero does not make the contribution, the process to be listed on the Nasdaq, the technological index of the New York Stock Exchange, without this implying non-compliance with agreements or penalties.
The current shareholders of the company that will end up giving rise to the future Barça Media is made up of the club itself, which holds 51% of the capital; an unidentified investor who is protected by a company domiciled in Cyprus, with 19.7%; Socios.com, a firm dedicated to the commercialization of digital currencies, with 17.1%, Libero Football Finance Ag, with 9.8%; and Orpheus Media, from audiovisual businessman Jaume Roures, with 2.47%.
The aforementioned German company Libero, which is the one that has not complied with the payment scheduled in August, acquired its package by comparing Socios.com and Orpheus 4.9% each, for an amount of 40 million euros. He disbursed the first 20 at the time of signing the agreement, on August 11, while he promised to pay the remaining 20 on August 21. This last payment has not yet occurred. Barça is the one who receives that money, since the previous investors, Socios.com and Roures, did not manage to disburse it for the purchase of their shares.
Libero is a German company dedicated to providing financial advice to football teams and whose management team includes former managers of clubs such as Manchester United, Chelsea and several from the German Bundesliga.
The search for investment partners for the stock market project of Barça’s audiovisual subsidiary, which in turn must serve to shore up the club’s accounts and satisfy the economic criteria to comply with the financial regulations (fair play) of LaLiga, is turning out to be quite risky. .
First, the initial shareholders who were supposed to accompany the club, Socios.com and Jaume Roures, pulled out of the project by selling a good part of their participation before even having disbursed a good part of the money.
Replacements had to be sought, and to find the Cypriot partner who remains anonymous, a commission of 4.1 million dollars had to be paid to a Croatian consulting firm. Now, one of the replacements, Libero, is also delaying the execution of the plan, whose completion, with the listing on the stock market, was initially scheduled for the end of November of this year, although the initial contract contemplated the summer of next year.
However, given that this calendar is now impossible, the company in which Barça Media will be dissolved, an instrumentality that is already listed on the stock market called Mountain and Co. based in the opaque tax haven of the Cayman Islands, celebrates tomorrow a virtual shareholder meeting to extend that deadline. Although, in theory, it would also be possible for some of the investors in that company to withdraw their funds. In fact, such a thing has already happened in the past. Last June, Mountain, which is linked to a company of the same name in St. Gallen (Switzerland), a city famous for being the headquarters of thousands of companies due to its anorexic taxation for companies that operate outside the country, had 132 million his investors, almost half less than six months before, to use in his operation with Barça.