Barcelona mortgages its future on quick resurrection

FC Barcelona’s new French defender Jules Kounde shakes hands with Club’s President Joan Laporta during his presentation ceremony at the Joan Gamper training ground in Sant Joan Despi, near Barcelona, on Monday. (AFP)
Short Url
Updated 02 August 2022
Follow

Barcelona mortgages its future on quick resurrection

  • Laporta's board sold off 25% of their Spanish league TV rights for the next 25 years for $679 million
  • They sold a 25% stake of their Barça Studios production hub for another $102 million on Monday

BARCELONA, Spain: Crippled by debt and fielding a team that were no longer among Europe’s elite, Barcelona’s leadership decided there was only one alternative after watching Real Madrid sweep up the major trophies last season.
They chose to double down and spend, spend, spend.
Barcelona will enter the season with immediate hopes of winning after adding striker Robert Lewandowski, defender Jules Koundé and winger Raphinha to an uneven squad composed of promising youngsters and several unwanted players.
But the three signings for more than a combined 160 million euros ($163 million) — making it Europe’s leading spender of the offseason — have come at an even larger cost that will burden the club for the next quarter century.
With Barcelona about to close last season with a financial loss for the fourth straight year and no money to spend on transfers, club president Joan Laporta took the gamble that the only way to save the team and stave off their seemingly unstoppable slide into mediocrity was to mortgage their future.
After receiving the approval of Barcelona’s club members, Laporta’s board sold off 25 percent of its Spanish league TV rights for the next 25 years for 667 million euros ($679 million). The club quickly used that cash to make its splash in the transfer market.
“It’s true that I would have preferred not to have had to sell a percentage of the TV rights,” Laporta said this week from New York, where Barcelona completed their preseason tour of the United States. “But the situation was complicated and required us to be brave and take decisions, because soccer does not wait for anyone and our fans, who are used to winning, deserve a Barça that can compete.”
The Catalan club’s shopping spree may not be over. They sold a 25 percent stake of their Barça Studios production hub for another 100 million euros ($102 million) on Monday.
The club have pledged a third of that much-needed income to new players, a third to savings, and a third to paying off debt that despite efforts to bring it down still stands at 1 billion euros ($1 billion).
The sacrifice of future revenue comes after Barcelona sold the naming rights of Camp Nou. Europe’s largest soccer stadium will bear the name of audio-streaming service Spotify, as will Barcelona’s shirts at the season opener against Rayo Vallecano on Aug. 13.
Laporta, who inherited a debt-ridden club when he returned to power last year, has also remained a firm backer of Madrid president Florentino Pérez’s scheme to establish a Super League.
But not even the Spotify deal and shedding the salaries of Lionel Messi, Luis Suárez, Philippe Coutinho and Antoine Griezmann for practically nothing in return in recent years proved enough to balance the books.
The mismanagement by previous president Josep Bartomeu, combined with the impact of the COVID-19 pandemic, left the club saddled with a massive debt of more than 1.3 billion euros ($1.3 billion) and the largest payroll in soccer.
Barcelona’s financial difficulties have, predictably, been accompanied by their team’s fall from grace.
Barcelona haven’t won the league title in three seasons, after having won eight of the previous 11. The team haven’t lifted the European Cup since 2015, when it won the Champions League for the fourth time in a decade. They won nothing last season after Messi left for Paris Saint-Germain.
All told, the once mighty Barcelona have become known for their economic mess, scandals involving Bartomeu despite his denials of wrongdoing, their inability to retain Messi, as well as humiliating defeats, including a historic 8-2 loss to Bayern Munich.
For Laporta’s critics, it was fitting that Barcelona announced the sale of their second package of TV rights while the team were training in Las Vegas ahead of its friendly “clásico” against Madrid, which Barcelona won 1-0. For some, like former England player Gary Neville, auctioning off TV rights smacked of going for broke.
“Barcelona still pursuing the Super League? This is why! A desperate club (1.2 billion pounds) in debt selling future revenue streams to spend on players today in the ‘Hope’ it pays off! Rolling the dice stuff this with a giant of a club,” Neville wrote on Twitter.
Laporta argues that he had no choice: The alternative was only more losing, fewer fans and dwindling income.
Pressing home the need for the unprecedented measures in June, Laporta told fellow club members that when he took charge after winning club elections in March 2021 the team was nearly bankrupt.
“We couldn’t meet the payroll. We were clinically dead. We restructured the debt, reduced spending and slashed the player payroll substantially, but it still was not enough,” Laporta said. “By finding new revenues and sponsors we went from being dead to the intensive care unit, and now we can finally get back to living a normal life (after selling the TV rights).”
Still, even in the most favorable analysis, the decision is painful.
“From a financial point of view, it is never good news when you sell assets,” economist Marc Ciria, who in 2015 formed part of an unsuccessful presidential run by Laporta but now has no connection to the executive, told The Associated Press.
“Barcelona have spent (nearly) 125 years acquiring patrimony, and TV rights are one of the few assets that is guaranteed to increase in value. But it is also clear that Barcelona, for its status, cannot afford to have another season like the last one.”
Ciria calculates that, not even including inflation, Barcelona have sacrificed at least 1 billion euros ($1 billion), starting with 41 million euros ($42 million) this season, in future TV revenues in exchange of 670 million euros ($684 million) now.
But, for Ciria, the greatest threat to the sustainability of Barcelona is the bloated player salaries. He calculates that just to break even this season the club would need to reduce its salary load to 450 million euros ($457 million). It stood at 518 million euros ($526 million) before the latest signings, which also include free agents Franck Kessie and Andreas Christensen.
Barcelona is also under pressure to reduce their salary load so it can meet the Spanish league’s financial rules and be able to register their new players so they can play games.
Dani Alves, Adama Traoré and Luuk de Jong have all left after finishing their deals, but of its players under contract it has an agreement to transfer Óscar Mingueza to Celta Vigo and has loaned out Clement Lenglet and Francisco Trincão.
Barcelona want Frenkie de Jong to accept a transfer to Manchester United or take a pay cut. Martin Braithwaite, Samuel Umtiti, and Riqui Puig were all left off Barcelona’s squad for the trip to the United States and the club want them gone.
Last season, Barcelona flopped out of the Champions League’s group phase for the first time in two decades. They finished a distant second in Spain to Madrid, which also won the European Cup to only increase the frustration of Barcelona supporters.
The additions of a world-class scorer in Lewandowski, a top young center back in Koundé and the flare of Raphinha should provide coach Xavi Hernández with what he needs to improve a squad featuring Spain midfielders Pedri González (19 years old) and Gavi Páez (17).
But one year after Messi’s wife handed him a tissue as he wept while saying farewell to the club he helped make great, Barcelona are at a crossroads where it appears the only two ways forward are renewal or decline.


Riyadh prepares for 2nd annual Saudi Elite Hockey Championship

Updated 11 January 2025
Follow

Riyadh prepares for 2nd annual Saudi Elite Hockey Championship

  • 80 players from 8 teams will battle it out at the Prince Faisal bin Fahd Olympic Complex on Jan. 17 and 18
  • Najd Falcons were crowned winners of the inaugural event last year, ahead of runners-up Alittihad Club

RIYADH: Final preparations are underway for the second annual Saudi Elite Hockey Championship at the Prince Faisal bin Fahd Olympic Complex in Riyadh next week.
Eight teams, featuring a total of 80 players, will battle it out on Jan. 17 and 18: defending champions Najd Falcons, last year’s runners-up Alittihad Club, Alshabab Club, Jubail Buraq, Naqi, UTSC, Arab Legends and Hamra Legends.
The event has been organized under the supervision of the Saudi Hockey Federation, which said the championship represents a significant step in the development of hockey, in line with the wider sports renaissance in the Kingdom as part of efforts to enhance quality of life and contribute to the goals of the Vision 2030 plan for national development and diversification.


FIA president commends Saudi Arabia’s efforts in organizing Dakar Rally

Updated 10 January 2025
Follow

FIA president commends Saudi Arabia’s efforts in organizing Dakar Rally

  • Mohammed Ben Sulayem speaks of Kingdom’s commitment to delivering top-notch experience for participants
  • Rally resumes on Saturday with 7 stages remaining

Ha’il: The International Automobile Federation’s President Mohammed Ben Sulayem commended the Kingdom’s efforts in organizing the Dakar Rally during his visit to Saudi Arabia’s rally bivouac on Friday.
Ben Sulayem also praised the Kingdom’s commitment to delivering a top-notch experience for participants and highlighted the warm hospitality and generosity that embody the spirit of the Saudi people.
The FIA president highlighted that Saudi Arabia’s success in hosting global sporting events, such as the Dakar Rally, has set a benchmark and become a source of pride. He also acknowledged the hard work and teamwork of all rally participants, noting their role in strengthening the Kingdom’s reputation as a world-class motorsport hub.
The participants have taken a well-deserved rest after enduring several days of tough desert challenges. Meanwhile, support teams have continued their vital work, ensuring vehicles are maintained and ready for the next stages to help competitors perform at their best.
After covering about 2,579 km of special stages, 299 vehicles arrived at the bivouac camp in Ha’il. Vehicles included 118 bikes, 58 cars, two stock vehicles, 45 challengers, 33 SSVs, and 43 trucks.
The rally resumes on Saturday with seven stages remaining. Participants will head to Al-Dawadmi, covering 829 km, including 605 km of timed special stages.
The journey will then take them through a circular stage in Al-Dawadmi, followed by Riyadh, Haradh, and finally Al-Shubayta.
The rally concludes with two final stages in Al-Shubayta on Jan. 16 and 17, marking the end of this year’s Dakar Rally.


Leipzig sign wing back Ridle Baku from Bundesliga rival Wolfsburg

Updated 10 January 2025
Follow

Leipzig sign wing back Ridle Baku from Bundesliga rival Wolfsburg

  • Leipzig said Friday that the 26-year-old Baku had signed a 2½-year contract to 2027
  • “Ridle will give us more options in the future,” Leipzig sporting director Marcel Schäfer said

LEIPZIG, Germany: Leipzig have signed wing back Ridle Baku from Bundesliga rival Wolfsburg after an injury to Benjamin Henrichs.
Leipzig said Friday that the 26-year-old Baku had signed a 2½-year contract to 2027. He will be available for Sunday’s home game against Werder Bremen as the league restarts this weekend after its winter break.
“Ridle will give us more options in the future,” Leipzig sporting director Marcel Schäfer said. “He can play anywhere on the right side, loves to get forward, is a good finisher and tackler, and comfortable in possession too.”
Baku’s contract with Wolfsburg was set to expire at the end of the season. Kicker reported that the clubs had agreed on a transfer fee of under 5 million euros ($5.1 million) for the player.
Baku, who was born in Mainz, made his Bundesliga debut against Leipzig for Mainz in 2018. He joined Wolfsburg in 2020 and established himself as a regular at the Volkswagen-backed club. Altogether he scored 20 goals in 166 appearances for the team.
Baku made his debut for Germany under Joachim Löw in a friendly against the Czech Republic in November 2020, and made three more appearances for the team in World Cup qualifying in 2021, but hasn’t been called up since.
Henrichs ruptured an Achilles tendon in his right foot in Leipzig’s 5-1 loss at Bayern Munich on Dec. 20 before the winter break. The club said he “will remain out of action for a while.”
Leipzig have struggled so far this season, losing all their games in the Champions League and dropping points in seven of their 15 games in the Bundesliga.


After ‘hardest’ preseason, Russian teen Mirra Andreeva eyeing top 10 and silverware

Updated 11 January 2025
Follow

After ‘hardest’ preseason, Russian teen Mirra Andreeva eyeing top 10 and silverware

  • 17-year-old hotly tipped for a deep run at the Australian Open

DUBAI: Two years ago, a 15-year-old Mirra Andreeva lost the Australian Open junior final to her friend and doubles partner Alina Korneeva.

On the eve of the first Grand Slam of the season, Andreeva returns to the Australian Open ranked 15 in the world on the women’s tour and a popular dark horse tip for the title – or at least a deep run – at Melbourne Park.

The 17-year-old’s rapid ascent in professional tennis includes a semi-final appearance at Roland Garros last June, a maiden title triumph at a WTA 250 event in Romania the following month, and an Olympic silver medal alongside her compatriot Diana Shnaider in women’s doubles at the Paris Games a week later.

Andreeva ended her breakthrough 2024 campaign with a runner-up showing in Ningbo, and looked inconsolable during the trophy ceremony despite her opponent Daria Kasatkina’s best efforts to cheer her up.

“That final was something special,” Andreeva told reporters in Brisbane last week, where she warmed up for the Australian Open by reaching the semifinals.

“Honestly, I got emotional because I led 3-0 in the third set, and I lost 6-4. It's never easy to lose the match when you're almost always the one who is up in the score.

“Of course, I got emotional, as well, because for me it was the chance to win my second title.

“It's a learning experience. I just have to accept it. Now when I look at those videos when I'm crying, I just laugh at myself because I couldn't hold it inside.”

2024 was a steep learning curve for Andreeva and she scaled it in impressive fashion.

It comes as no surprise that many of her peers have picked her as one to watch in 2025, with the likes of world No.1 Aryna Sabalenka, and Tunisian star Ons Jabeur, naming Andreeva as the player mostly likely to reach a first major final and crack the top 10 this season.

They are goals Andreeva has in fact set for herself as her ceiling of expectations continues to rise.

“I would say that my number one goal would be to claim the top 10, just to secure myself there and of course, I think as every other player on tour, I would like to win some titles,” Andreeva told Arab News on the sidelines of the World Tennis League (WTL) in Abu Dhabi last month.

“I worked very hard in the preseason and I will continue working hard for it. So I’m just hoping that the hard work will pay off and I’ll do everything possible for this.”

Coached by Spanish former Wimbledon champion Conchita Martinez, who joined her team last year, Andreeva admits her preseason training block was “one of the hardest” she’s ever had, but given her promising start to the year in Brisbane, it is already paying dividends.

“I really had a hard time doing all the fitness sessions. As well on the court, it was hard to push myself to practice. So I kind of fought a lot with myself,” she explains.

“But I had my team close to me and they helped me a lot, of course. I cannot say it was fun, but of course it was very useful. You cannot play tennis without having a preseason. That’s just part of my career, my life, I just have to get over it. I have to accept it, I have no other choice. But it was almost fun,” she added with a laugh.

“Every day you’re getting more and more tired. You’re exercising a lot, you have two fitness sessions then you have a long tennis session. So after that you’re tired, you also cannot find yourself a lot of strength and power to push yourself to have the same intensity and the same power on the court. So it kind of goes a bit down.

“I was sad that my level on the court dropped but they said, ‘It’s normal, you do a lot of fitness, so this week, forget about tennis’. I’m like, ‘But I can’t, I’m playing so bad’.

“But we almost never talk seriously, we always joke around. So none of this was really serious. It was hard, but there was no burnout.”

Indeed Andreeva and Martinez are a lighthearted pair. The Russian teenager credits Martinez, who previously worked with ex-world No.1s Garbine Muguruza and Karolina Pliskova, for bringing lots of positivity to the team.

Andreeva has a unique and creative game that relies heavily on improvisation – something Martinez doesn’t seem to mind.

“I think that she brings more fun. I’ve never really been too serious on court,” said Andreeva of her Spanish coach.

“I always did what I wanted, I didn’t really have a plan for any match, I would just go. She was asking me a couple of weeks ago, ‘Okay, you’re playing a set right now, what’s your plan?’ I’m like, ‘I don’t know, I’m just going to go and see, I don’t know, I’m going to decide’. And she’s like, ‘Mirra, but you cannot play like this’. And I’m like, ‘But I always play like this’.

“So she’s like, ‘Okay, you’re right, just go’. And that’s how I think she brings more fun, she brings more positivity 100 percent, because before I also tend to be a bit hard on myself, so she’s also helping me to deal with it and it’s just a bit easier like this.”

During the four-day exhibition WTL in Abu Dhabi, Andreeva was on the same team as Sabalenka, and paired up with the world No.1 in doubles on multiple occasions.

The duo have faced off four times on tour so far (Sabalenka leads the head-to-head 3-1) but had never really interacted much off court before teaming up for the WTL.

“It’s good to be in one team and to share the court with her because you can see what she does differently, why she’s on top, why she’s the best player on tour right now,” said Andreeva of the top-ranked Belarusian.

“Of course it’s a good experience for me to also see if there is something different that she does or no.”

Andreeva is not the only professional tennis player in her family. Her older sister Erika, 20, cracked the top 100 last year and is currently ranked 86 in the world.

The siblings squared off in a WTA tournament for the first time in Wuhan end of last season, with Erika beating Mirra in straight sets in the second round.

“It's the greatest thing in the world to share the court with your sister,” says Mirra.  

“Of course I would want it to be in the final or at least closer to the end of the tournament, not in the second round. That match was really hard, especially for me mentally. I think it was hard for both of us but I really struggled, and I think all of us did; our coaches, our parents, everyone.

“So with time and with experience I think we’re going to learn how to deal with all of that. That was the first time and we all knew it was going to be hard.

“But having her around and seeing that she’s improving every day and I just know that she’s working really hard and it’s just nice to see that her hard work is paying off.

“Maybe not all in one time, but day by day she’s dealing with it and she’s improving and I can see her playing great in practices and during the tournament in her matches. When she’s happy, I’m happy.”

Andreeva will begin her Australian Open campaign on Sunday against Czech world No.42 Marie Bouzkova.


Govt. minister says England should play Afghanistan, despite growing calls for boycott amid women’s rights concerns

Updated 10 January 2025
Follow

Govt. minister says England should play Afghanistan, despite growing calls for boycott amid women’s rights concerns

  • The ICC’s policy requires nations granted Test-playing status, which Afghanistan was given in 2017, to support women’s cricket

LONDON: World cricket’s governing body is coming under increasing scrutiny for its stance on Afghanistan’s inclusion in the upcoming Champions Trophy tournament, despite the Taliban’s restrictions on women’s rights and sports participation.

The International Cricket Council has so far resisted calls to ban Afghanistan’s men’s team or press the Taliban regime to uphold its own rules surrounding the establishment of a women’s cricket team, citing a strategy to influence change through engagement.

The ICC’s policy requires nations granted Test-playing status, which Afghanistan was given in 2017, to support women’s cricket.

However, Afghanistan was accepted as a full member without an already functional women’s cricket program, citing religious and cultural reasons.

Despite efforts by the Afghanistan Cricket Board to establish a women’s team in 2020 “adhering to the traditional Afghan and Islamic values,” the Taliban’s resurgence in 2021 halted progress, with women and girls increasingly banned from sports and public life since.

More than 160 British MPs and peers have recently called for the England and Wales Cricket Board to boycott their match against Afghanistan, set to be played next month in Pakistan, Sky News reported.

Prime Minister Keir Starmer refused to commit to such action, but said: “The Department for Culture, Media and Sport is in touch with our international counterparts on this issue. I welcome the England and Wales Cricket Board making strong representations to the International Cricket Council on Afghanistan’s women’s cricket team.”

South Africa’s Sports Minister Gayton McKenzie has also supported calls for a boycott, but Cricket South Africa has deferred to the ICC, emphasizing adherence to tournament regulations.

However, British Culture and Sport Secretary Lisa Nandy has rejected the idea of a boycott, stating that such actions could penalize athletes and alienate fans.

Speaking to BBC Breakfast, Nandy said: “I’m instinctively cautious about boycotts in sports. I think they deny sports fans the opportunity that they love, and they can also very much penalize the athletes and the sports people who work very, very hard to reach the top of their game and then they’re denied the opportunities to compete.

“They are not the people that we want to penalize for the appalling actions of the Taliban against women and girls,” she added.

Instead, Nandy pointed to diplomatic measures to bring about change, highlighting past UK efforts to withhold symbolic support at sporting events, such as avoiding dignitary attendance at the Winter Olympics in China.

“When China hosted the Winter Olympics, I was very vocal, many of us were very vocal about making sure that we didn’t send dignitaries to that event, that we didn’t give them the PR coup that they were looking for when they were forcibly incarcerating the Uighurs in Xinjiang,” she said.

The ICC has reiterated its commitment to engaging with Afghanistan to foster inclusivity in cricket.

“The ICC remains closely engaged with the situation in Afghanistan and continues to collaborate with our members,” a spokesperson told Sky News.

“We are committed to leveraging our influence constructively to support the Afghanistan Cricket Board in fostering cricket development and ensuring playing opportunities for both men and women in Afghanistan.

“The ICC has established an Afghanistan Cricket Task Force, chaired by deputy chairman Mr. Imran Khwaja, who will lead the ongoing dialogue on this matter,” they added.

However, the ICC’s approach has drawn sharp criticism from Afghan women’s rights activists.

Khalida Popal, former captain of Afghanistan’s women’s football team, expressed disappointment in the governing bodies’ lack of action.

“The governing bodies have failed to stand by their own policies. There’s clear gender discrimination in sport, and they’ve ignored the women of Afghanistan,” she told Sky News.

England’s match against Afghanistan remains scheduled, and the ICC continues to engage with the ACB. But the Champions Trophy, set to take place next month, has become a focal point for global scrutiny of Afghanistan’s policies and the ICC’s role in upholding its principles.