Spanish soccer club FC Barcelona plans to list its digital unit Barca Media on the Nasdaq Stock Market through the creation of a special purpose acquisition company (SPAC), newspaper Expansion reported on Friday citing unidentified market sources.
The plan, which involves Swiss private equity fund Mountain Partners, is still in an ‘initial phase’ and the IPO would happen at the end of this year if it ever proceeds, Expansion reported.
FC Barcelona would keep an 80% stake in Barca Media, while the SPAC would own the remaining 20%. The transaction would value the unit at around 1 billion euros ($1.09 billion), Expansion said.
Barca Media operates the soccer club’s on-line video business and includes the property rights of the FC Barcelona brand on digital supports and e-sports.
A spokesperson at FC Barcelona was not immediately able to respond to a request for comment. Mountain Partners did not reply to a message seeking comment.
Source: Reuters.com