Barcelona Director admits not knowing name of investors as details of VIP seats deal are revealed

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Barcelona Institutional Vice-President Elena Fort has been the first person from the club to speak publicly on the registration drama involving Dani Olmo and Pau Victor, who are currently able to leave on a free. She also revealed the first details of a deal to sell the rights to commercialise VIP seats at the newly renovated Camp Nou, a deal done in order to help register Olmo and Victor.

Fort admitted to RAC1 that she did not know the name of the investors who had bought a total of 470 VIP seats once Camp Nou opens, believed to be from two companies in Qatar and Dubai, but defended the club, saying that they had not improvised. It is believed that the total value of the deal amounts to €110m.

"It is true that everyone comments that there is a deadline, but that is not the case. The social networks and news we receive with Barca as involved are unfair. A prior judgment has been made without having any real information about what happened. Barca, from the first moment we arrived and now with the signings, has fulfilled all the obligations of economic control. I have heard that we sold an asset on the cheap at the last minute, if I remember correctly, the first movements were in mid-October, parallel to the operation with Nike. Just because it's not reported doesn't mean that Barca isn't working."

However she did reveal that the deal was not in fact for the rental of 20 years of those seats, but rather 30. The current Barcelona regime have been accused of mortgaging the future of the club.

"It is for 30 years. The club has not been mortgaged, Espai Barca has financing through Goldman Sachs and this financing, part of it, is through the 'Hospitality' of the VIP seats. The rental has been marketed with great success, as have the boxes. There are 470 of those seats, which do not correspond to 5% of the total, and an agreement has been made by which this investor purchases the license to commercialise them in the future. The cost of this rental, from €21k to €80k, is guaranteed. This company will pay the maximum amount that it was going to receive, it gives the company the right to exploit it, to sell it at their own risk. It gives absolute stability, that agreement is a great success."

She would go on to explain that La Liga had changed their tune on the Nike sponsorship deal, telling the club that initially they were under the impression this would get them back within their salary limit and able to register Olmo and Victor. Hence Barcelona had decided to sanction the sale, or rental of those VIP seats.

The post Barcelona Director admits not knowing name of investors as details of VIP seats deal are revealed appeared first on Football España.

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