On the latest Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams discuss some of the biggest sports business stories of the week, including FC Barcelona’s ongoing financial troubles.
The Spanish soccer club is more than $1.3 billion in debt, and it has chosen to face that reality while trying to maintain its status as one of the most popular and most successful teams in all of Europe. To do that, the team needs to spend, and to spend, it needs to bring in more money.
Enter the great asset sale. In the last few months Barcelona has sold two 24.5% stakes in its content studio, to Socios and Orpheus Media, and sold 25% of its future media rights for the next quarter century to private equity giant Sixth Street. Those deals have brought in more than $700 million, which the club has used to bolster its ability to sign new talent. Up next: a massive stadium renovation.
The hosts also talk about NWSL club Angel City FC raising money at a $100 million valuation. It’s by far the highest known valuation for the women’s soccer league—more than double the next closest team—and a number that’s backed by four trends: 1) Angel City’s business is strong, 2) the club is raising money like a tech start-up, 3) the NWSL is undergoing league-wide commercial growth, and 4) U.S. soccer investors, in both men’s and women’s clubs, are extremely optimistic about the sport’s future in America.
Lastly, the hosts discuss the viral trumpets that accompany New York Mets closer Edwin Diaz whenever he pitches, and the sneaker-inspired Jordan Brand wrap from Michael Jordan’s NASCAR team over the weekend.
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