Spanish media: Barcelona suffered from financial impairment difficulties, and the studio s equity impairment was 49% received only 65 million euros

Western media cronicaglobal reported that Barcelona is facing new financial difficulties, including account impairment and return on investment.

Club Barcelona still faces uncertain accounts closure despite multiple revenue sources exceeding expectations. In 2024, auditing company Grant Thornton requested an impairment of 141 million euros on Bridgeburg Invest, resulting in a loss of 91 million euros in fiscal 2023-24. In the last fiscal year, a 49% stake in Barça Studios (now known as Barça Vision) was impaired as only €65 million (estimated €200 million) of revenue was received. In addition, Grant Thornton recommended a further impairment of 51%, but the club rejected the additional expenditure. Some economists warn that this could happen again in 2025.

However, the club's sources said no further book value adjustments were discussed in the meeting with the new auditors. Returning to the fair competition rules 1:1 will not attract new technology subsidiary investors either. The club said that emerging business models such as Web3, Metauniu and NFT are still being reorganized and are not seeking new shareholders at present. Bridgeburg Invest has therefore been incorporated into Barça Produccions and was registered with the Business Registration on February 19.

Laporta's board of directors hopes to buy time for the appraisal subsidiary through this merger, win the trust of new auditors, and avoid further impairment. Meanwhile, the club hopes to maintain the confidence of existing shareholders, who have not seen any returns from Bridgeburg's investment. However, financial experts warn that such accounting dilution could lead to a decrease in shareholder equity. Before absorption, Barcelona controlled 100% of Bridgeburg Invest, but after absorption, its shareholding ratio would decline. According to the club's financial report, Bridgeburg Invest's 53% valuation is 208.9 million euros, while parent company Barça Produccions is valuing only 6 million euros.

Therefore, Barça Vision investors will gain a higher shareholding ratio than the club during the absorption process, thereby weakening the club's control. Despite the club's attempt to appease the parties, the unexpected risks remain. The 2024 plan does not include a 49% impairment of Barça Vision. With the 200 million euro deal yet to be completed, the club valued the remaining 51% of its shares at 208 million euros. Grant Thornton forced impairment when the account was closed and retained the possibility of further impairment.

While unpaid payments from Libero Football Finance no longer threaten financial conditions, Barça Studios' problems remain. To avoid new huge spending, Club Barcelona has reorganized its subsidiary structure through the above absorption. Barcelona currently holds 53.4% of Bridgeburg, followed by Socios.com with 18.96%, Vestigia Holdings with 4.93%, and Hellgas with 14.73%.

Alamac is the latest business partner of the Barcelona club, and has acquired 6.14% of the club's shares for 25 million euros. Of this, 15 million euros were used to pay some of Libero's debts, and the other 10 million euros were used to buy back shares held by Orpheus Media. Orpheus Media is managed by Jaume Roures, and its shareholding in Bridgeburg has dropped to 1.83%. All companies participating in Barça Vision will get a share of Barça Produccions.

Parent company Barça Produccions will rely on four business units: Barça Vision (or Bridgeburg), Barça Studios, Barça Games and E-sports. First is Barça Vision, the latest joiner. Bridgeburg's commercial and potential industrial partners will drive the club's Web3 development through its digital channels and the FC Barcelona Fan Token (BAR) launched in partnership with Socios.com. This includes cryptocurrencies such as NFT and their virtual world meta-universe. Socios.com CEO Alexandre Dreyfus was therefore appointed as an advisor to Barça Produccions, with a term beginning in June 2025. Next is Barça Studios, an audiovisual production company that creates, produces and sells all multimedia content from the club. The new business model also includes an OTT platform called Barça One. This free streaming platform will replace the discontinued Barça TV and will debut in April 2024. Initially, the platform cost 900,000 euros. The third pillar is Barça Games, which will celebrate its first anniversary in July 2025. This is the first gaming platform created by a sports club, launched in partnership with Mas Ros Media and FireSports. This on-demand content app represents Barcelona’s approach to younger generations and is designed to attract a younger audience. Esports was previously affiliated with Barça Vision and now stands independently as the fourth pillar of Barça Produccions. This business further narrows the distance with young fans by forming e-sports teams participating in games such as "League of Legends", "Valorant" and eFootball. It is worth mentioning that in terms of gender equality, Barcelona's e-sports department has newly established a women's team in 2025.

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