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Barca Media spin-off: what does the SPAC mean for FC Barcelona?

Article By: ,  Former Senior Financial Writer
August 18, 2023 11:15 AM

FC Barcelona is expected to list its media business in the final quarter of 2023. Find out everything we know about the Barca Media SPAC and what it means for the club.

What we know about the FC Barcelona SPAC deal

Spanish football club FC Barcelona has announced plans to list its content creation business on the Nasdaq later this year. The plans are for the spin-off to take place through a merger with a special acquisition company (SPAC).

The SPAC is Mountain & Co Acquisition Corp, which trades on the Nasdaq under the ticker MCAA.O. The combined company is estimated to have a pro-forma enterprise value of $1 billion (approximately €910 million).

Under the new SPAC deal, FC Barcelona will merge the Barca Vision and audio-visual content units under the new company which will be named “Barca Media”.

At the same time as the SPAC deal, FC Barcelona announced that LIBERO football finance AG and private investors advised by NIPA Capital B.V. have become new partners in Bridgeburg Invest, the existing holding company of Barca Vision. They’ve acquired a 29.5% stake in the business for €120 million.

Why is FC Barcelona spinning off Barca Vision?

FC Barcelona’s official statement on their decision to list states that ‘the agreement will allow Barça Media to access additional financing through the US capital markets and will accelerate the Club's initiatives across digital and audio-visual sectors’. And that they’ll bring fans closer to the club by using emerging technologies, such as NFTs, to create an engaging fan experience.

But it’s important to recognise that Barca Vision was created initially as part of the club’s attempts to save itself from a financial crisis by developing new revenue streams and bringing in sponsorships. According to its statement, FC Barcelona expects Barça Media to become a significant source of income for the club.

When is Barca Media’s IPO?

The date for the Barca Media listing hasn’t been confirmed yet, but the deal is expected to close by the last quarter of 2023.

The $1 billion merger still needs to be approved by club members and the SPAC’s shareholders before any further steps can take place.

Can you trade FC Barcelona shares?

No, you can't trade FC Barcelona shares. FC Barcelona and Bridgeburg Invest – the holding company of Barca Vision – are both private companies. That’s why the Barca Media SPAC has gained attention, as it will provide a way for investors to get exposure to a part of the club.

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