- Barca studios have sold its 24.5% stake to Orpheus Media
- According to a tweet shared by Socios CEO Alexandre Dreyfus, the following acquisition will help boost web3, and NFT content development.
- Sharing more details, Dreyfus added that the firm will now be known as Barca Digital and Entertainment.
In a recently published statement today, a prominent football club, FC Barcelona colloquially known as Barça Studios announced that it had sold 24.5% of the firm to Orpheus Media, a reputed audiovisual production company in a 100 million euros deal.
Orpheus Media Set To Acquire 24.5% of Barça Studios
Per an announcement made by Barcelona, Orpheus Media, led by Mediapro founder James Roures, has paid nearly 100 million euros to acquire a 24.5% stake in Barca Studios.
FC Barcelona announces the sale of 24.5% of Barça Studios to the company Orpheus Media for an amount of 100 million euros. This sale will serve to accelerate the growth of the Club’s digital, NFT, and Web3 strategy.
More information 👉 https://t.co/Q7v9c8WFy7
— FC Barcelona (@FCBarcelona) August 12, 2022
“The agreement complements the one signed on 29 July with Socios.com and will help to accelerate the growth of the club’s digital, NFT, and Web.3 strategy.” The announcement later adds
Barca Studios had earlier made a similar transactional deal with Socios.com, permitting the firm to own a 24.5% share of the company. The following agreements have come to light to stir and stabilize Barca’s declining financial infrastructure and help the firm register new players and comply with LaLiga’s national competition rules.
With this investment, the strategic partners in Barça Studios show confidence in the value of the project and the future of digital content in the world of sport” the statement adds
According to Reuters, the firm has been actively employing several techniques to bolster its funds to comply with LaLiga’s financial fair play rules, followed by ways to register new players including Polish striker Robert Lewandowski and Brazilian winger Raphinha.
Socios founder and CEO Alexandre Dreyfus took to Twitter to share the news of the said acquisition, adding that the firm will be renamed “Barca Digital and Entertainment,” set to exclusively focus on driving NFT, web3, and digital content in a global setting.
Dreyfus further added that the Barca-Orpheus deal will be powered by FC Barcelona token $BAR and Chiliz blockchain.
Breaking: Orpheus Media 🇪🇸 acquires 24.5% of Barca Studios for 100M Eur. The company will be renamed “Barca Digital & Entertainment” (BDE) and will focus on Web3 growth, powered by @FCBarcelona Fan Token ($BAR) x @socios x @chiliz ($CHZ) blockchain.
— Alexandre Dreyfus (@alex_dreyfus) August 12, 2022
Barca’s cross-stake transactions can be defined as fractions of a bigger divestment, which will help the firm redeem its losses, debts, and its existing financial voids.
The particular divestment has been referred to as “levers” by its president Joan Laporta. According to Laporta, Barca has recently activated its fourth economic lever to equalize its balance sheet.
According to SBNation, the latest move will certainly help Barca recover its funds, but it is still unknown whether the funds will be sufficient enough to sign new players. Barca is yet to register Robert Lewandowski, Jules Kounde, and Raphinha as well as Ousmane Dembele and Sergi Roberto, and commence their first game of the season tomorrow.