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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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Fourth meeting of High-Level Core Group on withdrawal of Indian troops held in Delhi

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The fourth meeting of the High-level Core Group between the Maldives and India took place in Indian capital New Delhi on Friday.

Maldivian Foreign Ministry said both sides reviewed the existing bilateral cooperation between nations during Friday’s meeting while discussions were also held on a wide range of issues of mutual interest, including development and defense cooperation.

Additionally, the Foreign Ministry said it was reiterated that the Indian government will replace military personnel at the last of the three aviation platforms by May 10th, adding both sides expressed satisfaction with the fact that all the logistical arrangements are going ahead as per schedule.

Both sides also agreed that the fifth meeting of the High-Level core Group will be held in Male’ on a mutually agreeable date in June or July.

The High-Level Core Group was formed following a meeting between Maldivian President Dr. Mohamed Muizzu and Indian Prime Minister Narendra Modi on the sidelines of COP28.

Source(s): sun.mv

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Minister of Islamic Affairs to attend the OIC Summit as the President’s Special Envoy

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The Minister of Islamic Affairs, Dr Mohamed Shaheem Ali Saeed, will attend the 15th session of the Islamic Summit of the Organisation of Islamic Cooperation (OIC), which begins tomorrow, as President Dr Mohamed Muizzu’s Special Envoy.

The Minister of Islamic Affairs is scheduled to address the 15th session of the Islamic Summit of the Organisation of Islamic Cooperation (OIC) as the President’s Special Envoy, which begins tomorrow, at Banjul, The Gambia. His address will be broadcast on television.

The Islamic Summit of the OIC, held once every three years, brings the leaders of the Islamic nations together to deliberate, take policy decisions, and provide guidance on issues pertaining to the Ummah as outlined in the OIC Charter.

The 15th Session of the Islamic Summit of the Organisation of Islamic Cooperation (OIC) will take place in Banjul, The Gambia, from May 4–5, 2024, under the theme “Enhancing Unity and Solidarity through Dialogue for Sustainable Development.”

Source(s): Presidents Office

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Vice President pledges govt’ support for journalists welfare

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Vice President Hussain Mohamed Latheef has emphasised President Dr. Mohamed Muizzu’s administration’s steadfast commitment to supporting journalists, addressing their needs and aspirations.

In an interview with PSM news on its 7th anniversary and in commemoration of World Press Freedom Day, Vice President Hussain Mohamed highlighted the administration’s awareness of the challenges faced by journalists, noting President Muizzu’s proactive engagement with them upon assuming office.

Furthermore, Vice President stressed the importance of public trust in the current administration’s ability to effectively address journalists’ concerns, particularly on World Press Freedom Day. He further reiterated that while journalism may not be explicitly delineated in the constitution, it serves as the country’s “fourth power” and urged responsible reporting avoiding misleading information, anticipating positive societal changes with these efforts.

In support of journalist’s financial independence, Vice President confirmed the formulation of a policy allocating a specific percentage of the state budget to them and the resolution of land plots for establishing a special media village.

Additionally, Vice President met with PSM news employees.

Source(s): PsmNews

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