This year's budget is 1,300M, of that €500M correspond to the levers. So there are those €800M left.
€631M was the 2020/21 season.
Barcelona: Charged with corruption .... again!
- Thread starter The Boy
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This year's budget is 1,300M, of that €500M correspond to the levers. So there are those €800M left.
€631M was the 2020/21 season.
Fitch >> DBRS
If people didn't think Barca weren't already fecked this is the proof.
Fitch, the smallest of the Big 3 credit agencies pulled their rating last week, as they said their near junk BBB- rating had gone from stable to negative; thus meaning that they belive Barca have now entered full blown junk status, even if they haven't quite rated them as such.
Now Barca are getting a second rate rating agency to rate them and posting it on their site as if this is a good thing.
This is actually worse than I thought it was and I have been one of the more negative posters about Barca's finances.
At this point, I literally do not see where Barca can go. The whole FDJ and levers situation is small fry compared to getting labeled a junk investment opportunity; although this also explains why they have whored out their income streams; they literally cannot get anymore money from any reliable banks.
If people didn't think Barca weren't already fecked this is the proof.
Fitch, the smallest of the Big 3 credit agencies pulled their rating last week, as they said their near junk BBB- rating had gone from stable to negative; thus meaning that they belive Barca have now entered full blown junk status, even if they haven't quite rated them as such.
Now Barca are getting a second rate rating agency to rate them and posting it on their site as if this is a good thing.
This is actually worse than I thought it was and I have been one of the more negative posters about Barca's finances.
At this point, I literally do not see where Barca can go. The whole FDJ and levers situation is small fry compared to getting labeled a junk investment opportunity; although this also explains why they have whored out their income streams; they literally cannot get anymore money from any reliable banks.
Fitch only analyzes the €470M of the Goldman & Sachs loan.
The original loan was €595M but Barcelona paid €125M with the second lever.
Still 80% of total?
Can't see Fitch (or any of the main rating agencies) changing their ratings much for the other 20%?
A summary of Fitch's rating.
Goldman Sachs, which just under a year ago granted Barça a loan of 595 million euros over ten years, with an average interest of 1.98% among international investors.
Fitch, has placed 470 million of that debt that the club maintains with the North American fund at the gates of the junk bond.
FC Barcelona's total debt is currently €1.2 billion, but Fitch's analysis focuses exclusively on the €470 million owed to Goldman Sachs, from the loan granted months ago.
Among the factors why Fitch puts FC Barcelona on the verge of junk bond, it is argued that "the negative outlook reflects the club's poor financial performance in the June 2022 fiscal year against expectations."
Also placed as an element of risk are the works of Espai Barça, which could be lengthened and made more expensive with the passage of time. "There are risks associated with the upcoming stadium refurbishment, which will force the club to temporarily move to a new, smaller stadium and substantially reduce the capacity of the well-known Camp Nou stadium, until the refurbishment is completed.
While it is true that the rating agency admits the strength of the Barça brand as one of the most important sports clubs in the world, it warns that "in recent years, the club has shown a particular willingness to spend on expensive transfers, which has led to a significant increase in its salary-to-income ratio, which has been above that of many equivalent competitors.
Deleveraging is slower than expected, compared to Fitch's rating case last year."
Tldr.
Tried to put losses in last year's accounts to make current years better. Rumours are... not happening.
As a business, you never want "junk" in any comment about you.
And the bold bit, that's what I was (very politely) alluding to in earlier post. You can cut costs but if you're still spending shitloads (funded by extra debt OR lost income), Fitch/Moody's/basically anyone is going to have concerns.
This is where the need for the President to please the voting socios becomes an issue. Do the right thing OR win votes?
Dont Barca realise anyone with any knowledge of stocks will know that this isnt the great news they potray it to be, is it posturing to please the fans?
If people didn't think Barca weren't already fecked this is the proof.
Fitch, the smallest of the Big 3 credit agencies pulled their rating last week, as they said their near junk BBB- rating had gone from stable to negative; thus meaning that they belive Barca have now entered full blown junk status, even if they haven't quite rated them as such.
Now Barca are getting a second rate rating agency to rate them and posting it on their site as if this is a good thing.
This is actually worse than I thought it was and I have been one of the more negative posters about Barca's finances.
At this point, I literally do not see where Barca can go. The whole FDJ and levers situation is small fry compared to getting labeled a junk investment opportunity; although this also explains why they have whored out their income streams; they literally cannot get anymore money from any reliable banks.
I dont know personally if this is or isnt great news, but from the comments Im believing it isnt. How do they expect investment, stock price to rise when the stock brokers and investment banks know this is bogus and wont touch them.
Don't forget this rating includes the espai barca project, which costs at least €1.5b. Without it, the rating would be far better. Because of this next huge debt, the risk for the investors grows of course.
La Liga kicks off this evening, Barca play tomorrow evening... anyone know when the deadline is for Barca to register players for the first game?
The day of the game, apparently.
No one is that stupid. They surely have a backup to be able to register all the players. This is just journalists trying to make a story out of nothing.
Is there an official La Liga page where you can see the registered players?
how can you straight faced say "out of nothing" when in about 24hrs you have a match and none of the new signings can (currently) play?
Can someone tell me if the mandate is to register players before their first league game or can the players be registered before the transfer window closes?
I understand not registering will prevent the unregistered players from playing the first match, but I’m assuming if the registration comes through before the end of the window, they will be able to play whenever they’re registered.
Also, can they unregister a player while still paying the players wages?
Say can they unregister FDJ as a means of pressuring him to leave?
I understand not registering will prevent the unregistered players from playing the first match, but I’m assuming if the registration comes through before the end of the window, they will be able to play whenever they’re registered.
Also, can they unregister a player while still paying the players wages?
Say can they unregister FDJ as a means of pressuring him to leave?
Players can be registered until the transfer window closes.
Because actually, the "transfer" window in reality is the registration window. You can 'transfer' players (sell/buy/make contracts) between clubs all year long, it just makes little sense to do it outside of the window where league and UEFA competition registration is allowed.
About the unregistering, I'm not sure but since clubs can decide who to register I would assume they could also unregister a player. However, apart from freezing out De Jong from being able to play, they wouldn't gain anything, as the denial to register further players is not based on some contingent of registered players (like, unregistering one would make it possible to register another), but is a sanction due to the violation of league FFP connected to the wage bill. And the wage bill isn't lowered by unregistering De Jong.
Would be detrimental to them to unregister a midfielder when they can't register the other midfielder they brought in, no? And they can always bench De Jong if they want (they won't).
Thank you!
Looks pretty empty: https://www.laliga.com/en-GB/clubs/fc-barcelona/transfers
But yes, I know they will figure out a way. And if I am not mistaken they have until the transfer window closes.
Aparently, Goldman Sachs, Bayern, Leeds, Chelsea, Manchester City, Sevilla, along with other small clubs, and players such Lewandowski, Koundé, Raphina, Dembelé, Christensen and Kessié, don't agree with you.
They should have asked the CAF I guess.
Yes, empty
We don't know the terms of those contracts and what kind of security measures Barca's contract partners took.Aparently, Goldman Sachs, Bayern, Leeds, Chelsea, Manchester City, Sevilla, along with other small clubs, and players such Lewandowski, Koundé, Raphina, Dembelé, Christensen and Kessié, don't agree with you.
They should have asked the CAF I guess.
There have just been rumuors that for example Bayern wanted the transfer fee up front to be sure Barca actually pays, as there have been delays in the installments for the Vidal transfer years ago.
https://www.fcbarcelona.com/en/club/news/2736062/fc-barcelona-official-announcement
The 4th lever + Pique's massive salary reduction allows Barca to register every player according to inside sources. The club is very calm in that regard.
Laporta called his buddy Jaume Roures to buy the last 24,5% of Barca Studios. That was the plan b all along it seems, if Frenkie decides to stay.
I'm looking forward for the season to start
edit:
That also means Barca generated €700m with those levers (6-8% of the total revenue for 25 years), while spending net €120m on transfers so far. Barca has around € 500-600m in cash right now. Let's see how Laporta's board will distribute that money towards debts.
The 4th lever + Pique's massive salary reduction allows Barca to register every player according to inside sources. The club is very calm in that regard.
Laporta called his buddy Jaume Roures to buy the last 24,5% of Barca Studios. That was the plan b all along it seems, if Frenkie decides to stay.
I'm looking forward for the season to start
edit:
That also means Barca generated €700m with those levers (6-8% of the total revenue for 25 years), while spending net €120m on transfers so far. Barca has around € 500-600m in cash right now. Let's see how Laporta's board will distribute that money towards debts.
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It always looks professional when a friend of the president steps in and sends the much-needed money.https://www.fcbarcelona.com/en/club/news/2736062/fc-barcelona-official-announcement
The 4th lever + Pique's massive salary reduction allows Barca to register every player according to inside sources. The club is very calm in that regard.
Laporta called his buddy Jaume Roures to buy the last 24,5% of Barca Studios. That was the plan b all along it seems, if Frenkie decides to stay.
I'm looking forward for the season to start
Quotes to back up your point?Aparently, Goldman Sachs, Bayern, Leeds, Chelsea, Manchester City, Sevilla, along with other small clubs, and players such Lewandowski, Koundé, Raphina, Dembelé, Christensen and Kessié, don't agree with you.
They should have asked the CAF I guess.
If it wasn’t Barcelona, you’d maybe think “come on, don’t do this, the risks are ridiculous, you’re running an average-to-decent sized club like a kid playing FIFA“… but it IS Barca, so I say crack on.
Thry are pretty much fecked if Spain goes into another lockdown(unlikely), but they have used all their bingo cards.
The Daily football podcast did a dedicated show last night on Barça's situation - it had Steve Crossman, Julien Laurens, Rory Smith and Dermot Corrigan, relatively dispassionate journalists who have no skin in the game, and who were overall quite critical of the situation, especially highlighting the short sightedness of it. I recommend giving it a listen, it's interesting.
But I'm sure Niemans and Ragnar will tell us they're idiots who know nothing and it's all under control.
But I'm sure Niemans and Ragnar will tell us they're idiots who know nothing and it's all under control.
I love that the owner of the company who bought these rights is out there giving interviews saying he's happy he gets to go see Lewandowski tomorrow. Just totally shameless.
The situation is critical and the decision to sell TV rights bad, but to do nothing was even worse. To sell 49,9 % of Barca Studios for €200m was masterclass on the other hand, because it wasn't profitable so far.
On the same shameless level as to sell a parking lot for half a billion?
I don't know who those people are and what they've said.
Barcelona will be good or bad depending on what they do year after year.
The logical thing will be that they lower the salary bill once Piqué, Busquets, Alba leave the club in 1 or 2 years.
And Barcelona can sign players who finish their contract or last year, next year end contract Iñigo Martínez or Gayá, to give some examples.
They will sell the tv rights till 2080
They're pretty reputable football journalists, and it's a good podcast. You can find it on Spotify, or here.
You're talking about things that will happen in the future (which I understand), but there are also things happening right now, which a lot of people are equating to mortgaging your future. You can't just brush away this summer by saying "we'll see", there is some actual analysis regarding how things have been conducted, and treatment of players, which is absolutely relevant for people who are interested in football and the current situation.
And whatever you may believe, the public image and standing of your club has absolutely taken a hit this summer.
That's a nice statement.
Can you bring up some examples of those hits? Players don't sign anymore, an empty stadium, tourists buy less merchandise, sponsors pay less?
Or are fan forums and social media journalists already enough to talk about hits?
Here is an example of attendance:
More than 40.000 match tickets will be sold tomorrow, in addition to the ones that were already sold. It'll be a record. [
@victor_nahe] That means again around €3m in tickets alone for a game against Rayo Vallecano. No need to mention museum and merchandise revenue on match day.
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Are there no Barca fans that think this is all pretty crazy on their part leveraging the future of the club to keep spending huge money, instead of doing a reset?
Barca are Doomed. The game they are playing will get a big hit next year because of world economy. How they got the 660m budget approved i dont get when they clearly didnt have the funds they on paper said having in march.
Listen to the podcast. There are 4 journalists that are making that point for me.
Weak clap-back. Besides it being apples and oranges: what is the value of that „parking lot“ today?
It wouldn’t even have been a reset. Without any signings they would have still gotten a top 4 spot in the league.