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Barcelona sells major stake of Barca Studios for $102M

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Spanish football club Barcelona’s president has announced the sale of 25 percent of Barca Studios, the company managing the club’s digital business and audiovisual productions.

Spanish football club Barcelona sold 25 percent of Barca Studios, which manages the club’s digital business and audiovisual productions, to Socios.com for $102.5 million dollars (100 million euros), club’s president Joan Laporta has said.

Club members had voted to allow the sale of 49 percent of the shares.

“For the moment, we have sold 25 percent to Socios.com,” Laporta said at the press conference on Monday to present Jules Kounde, bought for a reported $51.2 million (50 million euros) from Sevilla, as a Barcelona player.

Earlier this summer, the deeply indebted club sold 15 percent of its La Liga TV revenue to the American investment fund Sixth Street in two tranches or a total of 400m euros before going on a transfer spree.

In addition to Kounde, Barcelona have bought Robert Lewandowski from Bayern Munich and Raphinha from Leeds and signed AC Milan midfielder Franck Kessie and Chelsea’s Danish central defender Andreas Christensen on free transfers.

READ MORE: Bayern Munich agree on Lewandowski transfer to Barcelona for $50M

Drive to raise money

While the deals with Sixth Street are for 25 years, the sale to the Socios.com platform is permanent.

“It’s a sale for ever,” Laporta said. “There would be a way to recover this 25 percent but for the moment this operation means the entry of a new partner, Socios.com, which has injected 100 million euros,” he said.

Socios.com is a platform that allows clubs to increase their interaction with fans and try to make more money from it, including the use of Fan Tokens, a kind of digital asset based on blockchain and cryptocurrencies.

In its drive to raise money quickly, Barcelona has taken a $611 million (595 million euro) loan from investment bank Goldman Sachs and signed a sponsorship deal worth an estimated $446 million (435 million euros) with streaming service Spotify.

In August 2021, Laporta announced that an audit of the club’s finances showed Barca faced an estimated debt of $1.39 billion (1.35 billion euros).

They allowed Lionel Messi to leave for Paris Saint-Germain in 2021 because they could not afford to keep the Argentine star, even on a reduced salary.

READ MORE: ‘Ashamed’: Barcelona president alters ticket policy after Eintracht game

Source: TRTWorld

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Uthuru Thila Falhu to reduce imports, ensure food security: Minister Saeed

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Minister of Economic Development and Trade Mohamed Saeed has emphasised the government’s endeavor to enhance food security through the Uthuru Thila Falhu project, aiming to curtail imports.

In an interview with a private media outlet, Minister Saeed underscored the significance of locally sourced products in ensuring food security for citizens. He also highlighted plans for island-level production.

Additionally, Minister Saeed outlined a upcoming initiative set to launch in Uthuru Thila Falhu, focusing on bolstering food security by cultivating ample fruits, vegetables, and seafood to cater to both resorts and residential areas across the nation. He said that the project aligns with President Dr. Mohamed Muizzu’s vision for the country, aiming to transform Uthuru Thila Falhu into a pivotal food hub.

Furthermore, Minister Saeed disclosed that the Maldives Industrial Development Free Zone has entrusted the China Harbour Engineering Company with reclaiming land and establishing an agricultural zone in Uthuru Thila Falhu. The project includes the creation of a specialized agricultural zone serving as a pivotal distribution center for agricultural products and inputs.

Source(s): PsmNews

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Six independent MP-elects sign with PNC

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Six independent candidates who were elected to the Parliament in the recent elections have signed with the main ruling People’s National Congress (PNC).

In the parliamentary elections held on Sunday, PNC had endorsed several independent candidates over those contesting on the party’s ticket.

A spokesperson from the PNC confirmed on Wednesday that six independent candidates have signed with the party.

All six joined PNC on Tuesday.

They are:

  • Dr. Anara Naeem: Huraa constituency
  • Hassan Zareer: Mathiveri constituency
  • Ahmed Zameer: Central Machangolhi constituency
  • Ahmed Riyaz: Thimarafushi constituency
  • Yaseen Abdulla: Naifaru constituency
  • Azim Abdul Azeez: Vilingili constituency

The PNC had secured a landslide victory in Sunday’s elections; winning 66 out of 93 seats. With the six MP-elects who signed on Tuesday, the ruling party will have 72 seats in the next parliamentary assembly.

This does not take into account the candidates from other parties backed by the government; Maldives National Party (MNP)’s leader Colonel (Retired) Mohamed Nazim, Maldives Development Alliance (MDA)’s leader Ahmed Siyam Mohamed, and Mohamed Abbas – a political from MDA who won the Velidhoo seat.

The MP-elects who signed with PNC on Tuesday includes former party members who lost the PNC primaries held in January. They later ran in the elections as independent candidates, with the government backing their candidacy over that of the ruling party’s own candidates.

This includes Zameer and Ahmed Riyaz. Their rival PNC candidates had later dropped out of the race and backed their candidacy.

Meanwhile, Hassan Zareer, the incumbent Mathiveri MP, had won the 2019 elections on a ticket from the main opposition Maldivian Democratic Party (MDP). But he, along with 13 other lawmakers from MDP, defected to PNC after MDP’s Ibrahim Mohamed Solih lost re-election.

In this year’s polls, Zareer ran for re-election as an independent candidate, but with the government’s backing.

The move by the six independent MP-elects to join PNC comes after the MDP-majority Parliament passed an anti-defection bill on April 1.

The bill, which stipulates that parliamentarians will lose their seat for floor crossing, was signed into law by President Dr. Mohamed Muizzu last week.

Meanwhile, a separate bill to include anti-defection provisions in the constitution is in the works in the Parliament.

The 20th parliamentary assembly will be sworn in on May 28.

Source(s): sun.mv

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Abdul Raheem express confidence in retaining majority of Parliament

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Special Advisor to the President Abdul Raheem Abdulla has expressed confidence that the newly elected Parliament will be retained. The remarks were made during a programme aired on PSM News.

The ruling party, People’s National Congress (PNC) secured the super majority of the Parliament, following the parliamentary elections held on April 21. Abdul Raheem stated that the majority retained is close to 80 members, including 66 PNC candidates elected, who were endorsed by President Dr. Mohamed Muizzu. He affirmed that the new Parliament would strive to amend laws and regulations such that residents attain the maximum benefit, unlike previous Parliaments.

Abdul Raheem claimed to be aware of the reasons behind the incapacity of previous Parliaments of being retained, and revealed that he knew the stories behind the resignation of 12 parliamentarians during the tenure of Former President Yameen Abdul Gayoom. Hence, he claimed to be aware of the necessary initiatives and preparations to maintain the majority of the newly elected Parliament.

Additionally, Abdul Raheem disclosed that certain candidates who were elected had previously held senior parliamentarian positions. Therefore, he ensured that the majority elected by the residents will be retained, unlike previous Parliaments.

Source(s): PsmNews

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