Barca mortgage their future

BARCELONA • Barcelona have surprised football observers by becoming the most active club this transfer market, outstripping all their rivals with €170 million (S$239 million) spent on transfers.

Despite being mired in €1.3 billion debt, the Catalans have managed to bring in the likes of Robert Lewandowski, Raphinha, Jules Kounde, Franck Kessie and Andreas Christensen.

Their spending spree - the highest among European clubs - is not done yet with Marcos Alonso close to a move, while they are also looking to land another blockbuster name in Bernardo Silva.

Barca have managed this by essentially taking out a mortgage on their future. Xavi Hernandez's team have sold off assets to bring in money by activating a series of so-called economic "levers".

Over the past month, they have signed away 25 per cent of their domestic TV rights for the next 25 years to American investment firm Sixth Street for a reported €400 million.

Barca sold off 24.5 per cent of Barca Studios, which handles the club's digital business and audiovisual productions, to Socios.com for €100 million, and another 25 per cent to American investment firm GDA Luma for another €100 million.

Earlier this year, they also signed their biggest sponsorship deal, worth a reported €435 million, with Spotify, allowing the music streaming giant to not only display their logo on the club's shirts but also have naming rights to the Nou Camp.

The influx of short-term cash has satisfied La Liga to a certain extent, with the Spanish league allowing Barca to register four of their five buys for Saturday's top-flight opener against Rayo Vallecano.

Only Kounde was left off the roster as Xavi's side were frustrated in a 0-0 draw that saw captain Sergio Busquets sent off in added time.

La Liga have said Kounde can be registered only if Barca sell more players or trim their wage bill, and the club have already started the process by trying to renegotiate their contracts with Busquets and Gerard Pique.

They are also trying to find suitors for some of their players, with West Ham yesterday making an approach for Memphis Depay.

However, Barca need to offload not only Depay if they are to satisfy La Liga's demands. Ideally, they would like to get rid of deadwood like Samuel Umtiti and Martin Braithwaite, but there have been no takers for the duo, who are on big-money wages.

That has led to heavy speculation over the future of Frenkie de Jong and Pierre-Emerick Aubameyang, and the rumours are likely to continue until the closing of the transfer window on Sept 1.

De Jong is said to be Manchester United's No. 1 transfer target this summer, while Chelsea boss Thomas Tuchel reportedly wants a reunion with former Arsenal star Aubameyang, who starred for him at Borussia Dortmund.

Both players remain reluctant to leave the Nou Camp, with Barca set to challenge for La Liga and the Champions League this term.

However, the pair may be forced out owing to the need to balance the books.

On Saturday, Xavi admitted that the club are taking a pragmatic approach over player retention in the coming weeks.

Barca's bloated wage bill means the board may have to take difficult decisions soon, said the former Spain great.

"Frenkie de Jong is not a substitute. But I don't know what will happen in the (transfer) market," Xavi added.

"I can't guarantee that he stays, but he will be important for us, if he does.

"It is the same as Auba, he is important for me. I don't know what will happen... not just with Frenkie or with Auba, with almost everyone in the squad."

On their lacklustre stalemate, despite Raphinha, Christensen and Lewandowski starting and Kessie coming off the bench, Xavi said: "Maybe the pressure and expectation got a little under our skin...

"It will be a process... We have to be patient and keep working. Better days will come."

REUTERS