The Spotify deal will help the club reduce that
deficit and significantly improve its spending
power as the league’s salary caps are largely
based on revenues, costs and debts.
The negotiation with Spotify had been ongoing
for some time, and Ferran Reverter resigned
as Barcelona’s CEO last month reportedly over
disagreements within the club about the new
deal, though the club and Reverter said he left
“for personal and family reasons.”
Barcelona has been slowly restructuring its
finances after amassing huge debts because
of the coronavirus pandemic and poor
management by previous administrators. The
club couldn’t keep Lionel Messi after last season
because of its financial struggles.
Barcelona is back in the second tier of European
soccer after nearly two decades contending
among the elite in the Champions League.
Xavi Hernández’s team has been playing well
recently after a tough start to the season and is
back to third place in the Spanish league after
being near mid-table early on.
Spotify was recently involved in a controversy
over content by comedian Joe Rogan, who has
millions of devoted fans but angered some
people who found his comments offensive.
Spotify CEO Daniel Ek last year said a bid to buy
Arsenal was rejected by the Kroenke family, which
owns the London-based Premier League club.