After La Liga rejected an attempt by Barcelona to use club funds to inflate the value of two asset sales they had used to balance the books and strengthen their team, they are still unable to register their summer acquisitions.
In order to add newcomers like Robert Lewandowski, Andreas Christensen, and Jules Koundé to the squad for their season-opening match against Rayo Vallecano on Saturday night, the club now plans to turn to a fourth extraordinary revenue source by selling a further 25% of their content production company, Barça Studios, for an estimated €100 million.
Barcelona had hoped that by accounting for the benefits of €667 million (£562 million) from the sale of two packets of future television rights, they would be able to adhere to La Liga's financial fair play regulations. In addition, they disclosed the sale of roughly 25% of Barça Studios, the third of their so-called "palancas" or financial "levers" this summer.
As they worked to strengthen their team and get out of a financial crisis, Barcelona claimed that they had brought in over €850 million in total, including a new sponsorship agreement with Spotify, player departures, and increased revenue.
The amount Barcelona had directly received from investors, Sixth Street, for two TV rights packages of 10% and 15%, respectively, was only €517 million, according to the league's audit. According to the club itself, the remaining €150 million has been paid, according to the Spanish radio station Cadena Cope. Grant Thornton, the club's auditors, have certified that the operation is legal and clear, but the league has recalculated the benefit on the grounds that €150 million of the total does not represent new income.
Barcelona is still short of the requirement where they can register all of their players with La Liga because they have spent more on transfers than any other club in Spain and haven't yet been able to cut their salary expenses enough.