Barça assures that the complex financial operation that must conclude with the listing on the US stock market of its subsidiary Barça Mitjana Mitja continues to go ahead 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's sources consulted, that partner, the German investor Libero, has until the month of October to make effective the disbursement of the outstanding amounts, and if not the fact is still due to administrative issues that they expect to have resolved by the end of this month, for which they have asked for an additional period of one month.
The club chaired by Joan Laporta considers that the operation is positive for the entity and wants to continue moving forward and in the initial agreement it was already contemplated that there could be postponements in the payment schedule. In any case and as a precautionary measure, the entity has notified the regulator of the New York Stock Exchange, as reported by El .
The sports entity has included a new clause in the agreements with the other investors involved in which it is stated that in the event that Libero does not make the contribution, the process to be listed on the Nasdaq, the technology index, can be reversed of the New York Stock Exchange, without this implying breach of agreements or penalties.
The current shareholders of the company that will eventually give rise to the future Barça Mitjana Mitja are made up of the club itself, which holds 51% of the capital; an unidentified investor who takes after 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, from audiovisual entrepreneur Jaume Roures, with 2.47%.
The aforementioned German company Libero, which is the one that has not complied with the planned payment in August, acquired its package comparing partners, as well as Orpheus 4.9% each, for an amount of 40 million euros. He paid the first 20 at the time of signing the agreement, last 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 get to disburse it for the purchase of their shares.
Libero is a German company dedicated to providing financial advice to football teams and its management team includes ex-managers of clubs such as Manchester United, Chelsea and some of the German Bundesliga.
The search for investment partners for the stock market project of Barça's audiovisual subsidiary, which in turn must serve to prop up the club's accounts and satisfy the economic criteria to comply with the financial rules (fair play) of the Spanish League, is quite hectic result.
First, the initial shareholders who were supposed to accompany the club, socios.com and Jaume Roures, withdrew from the project by selling a large part of their participation before even disbursing a large part of the money.
However, since that schedule is already impossible, the company in which Barça Mitjana Mitja will be dissolved, an instrumental one that is already listed on the stock market called Mountain and Co. based in the opaque tax haven of the Cayman Islands, is holding a virtual shareholder meeting tomorrow 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, this has already happened in the past. Last June, Mountain, which is linked to a company of the same name in St. Gallen, Switzerland, famous for being home to thousands of companies because of its anorexic taxation for companies operating outside the country, had 132 million from his investors, almost half less than six months earlier, to use his operation with Barça.
Barça assures that the complex financial operation that must conclude with the IPO of its subsidiary Barça Media in the US continues despite the fact that one of the new partners has not disbursed part of the money committed on the scheduled date. According to the club's sources consulted, that partner, the German investor Libero, has until the month of October to effectuate the disbursement of the outstanding amounts, and if he has not done so it is still due to administrative issues that they hope to have resolved in end of September, 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 continue, and in the initial agreement it was already foreseen that there could be postponements in the payment schedule. In any case and as a precautionary measure, the entity has notified the regulator of the New York Stock Exchange, as reported by El Confidencial.
The sports entity has included a new clause in the pacts with the other investors involved in which it is stated 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, and this would not involve any breach of agreements or penalties.
The current shareholding of the company that will eventually give rise to the future Barça Media is made up of the club itself, which has 51% of the capital; an unidentified investor behind 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, from audiovisual entrepreneur Jaume Roures, with 2.47%.
The aforementioned German company Libero, which has not complied with the expected payment in August, acquired its package by buying from Socios.com and Orpheus 4.9% each, for an amount of 40 million euros. He paid the first 20 at the time of signing the agreement, on August 11, while he promised to pay the remaining 20 on August 21. You haven't made this last payment yet. Barça is the one who receives this money, since the previous investors, Socios.com and Roures, did not get to disburse it for the purchase of their shares.
Libero is a German company dedicated to financial advice to football teams and which includes in its management team ex-managers of clubs such as Manchester United, Chelsea and some of the German Bundesliga.
The search for investment partners for the stock exchange project of Barça's audiovisual subsidiary, which must also serve to shore up the club's accounts and satisfy the economic criteria to comply with the financial rules (fair play) of the Spanish League, is turning out to be quite hectic .
First, the initial shareholders who were supposed to accompany the club, Socios.com and Jaume Roures, withdrew from the project by selling a good part of their participation before even having paid a good part of the money.
It was necessary to look for relays, 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 relievers, Libero, is also delaying the execution of the plan, the culmination of which, with the stock market listing, was initially planned for the end of November, although the initial contract established the possibility of the summer next year
However, since that schedule is already impossible, the company in which Barça Media will be dissolved, an instrumental one that is already listed on the stock market called Mountain and Co. based in the opaque tax haven of the Cayman Islands, is holding a virtual shareholder meeting tomorrow to extend that deadline. Although, in theory, it would also be possible for some of the investors in this company to withdraw their funds. In fact, this has happened before.
In June, Mountain, which is linked to a company of the same name in Sankt Gallen, Switzerland, home to tens of thousands of companies famous for its anorexic taxation for companies operating outside the country, had 132 million from his investors, almost half less than six months before, to use them in his operation with the Catalan club.
