Laporta的專訪(5)：球隊的財政困境 - 巴塞隆納足球俱樂部 Futbol Club Barcelona

新聞來源：L'Esportiu

https://bit.ly/3NuWc5Y

五、球隊財政的困境



(打起來很長乾脆回文)

我先在我的解讀後面附一下該報網站提供的英文翻譯，方便大家參照。
我自己看到的重點首先是，他提到轉播權收入會被西班牙政府課25%的稅，
但我不清楚如果這筆資金換成向高盛借貸的擔保，是不是就不用被課稅？
(等於是我們以未來營業的所得作為擔保，向高盛借一筆大錢，可能得固定向高盛支付利息
因此問題是依照西班牙法規，這筆所得的納稅義務人是高盛還是巴薩？)

其次，他如果以剩下90%的轉播權設定為高盛的借貸，這個總值大約是5.95億歐元。
他同時又提到這部份是有「成本」的，我不清楚這個是成本是否是只要給高盛的借款利息？
然後又說若跟高盛提前結算，又會有另一筆罰款。(a penalty for early settlement)

這樣看來，我覺得拉胖想釋出的訊息是現在我們簽或不簽這些協議，都會有很大的問題。
變成現在俱樂部在考量的事情是，
今年轉會窗的情況，是不是值得我們拿未來十年或更久的盈餘來賭？

如果是這樣的話，我自己個人的看法是不值得。
我們的目標應該是先設法撐過能在下季註冊現有球員以及交易結果就好。
前鋒已經沒有決定性的標的，
即使D7走，邊鋒位置上我們就用剩的人將就用，沒現金就不要硬補人，
中鋒位置上，我們真的完全沒有必要花大錢補萊萬，
比較能接受的選擇是想辦法跟馬競用格子換莫拉塔撐過這一兩年。

中場因為加入了屬中生代的凱西，R20又可以再延一季，
就繼續B5老帶少好好養這批青訓拔上來的年輕人。

唯一急需真的要補的就是LB，但難題就是值不值得出售FDJ去換？
或者能用L15、U23跟明戈薩三個想辦法湊錢換一個中價位的替補。
我想這點會是我們能不能評價夏窗成功的關鍵。

至於後衛其他位置如果沒有合誼的買賣，應該也不急於這個夏窗完全解決。
畢竟CB買了Christenson，剩下老皮、EG、A4，
就算清掉L15跟弟弟，其實不補人也湊合。
RB則是以Dest為主力，二爺跟R20輪換再撐一季也是有可能。


●One of the most talked about transactions is the option to sell 30% of the
audiovisual rights to Goldman Sachs.

This is not true. Look, there are several options, we can call them levers.

We have the option to sell television rights. We would like a maximum of 10%
of the television rights to be as much capital as possible. If we do some
quick numbers we see that we earn 165 million fixed TV rights for the league,
then let's say that for UEFA and bonus we reach 260.

What guarantees the television rights are these 165 million. 10% of these 165
are 16.5 million, and there are options such as CVC which is 50 years old,
other options 20 years old and others 10 years old.

What's wrong with us here? That all these amounts paid to us are taxed, so we
can reduce the money invested by those who buy the television rights by 25%.

From here, depending on how much, we liquidate the negative own funds, in
whole or in part, and after having liquidated all this, we have released 10%
of the television rights; the rest, 90%, are guaranteed by Goldman Sachs'
credit with Barça.

So it would be a credit that would have to be repaid in advance and that also
has a cost.

There are several factors that need to be taken into account, and it is not
that simple.

Settling a loan like Goldman Sachs, which we are talking about the order of
595 million euros, also has a penalty for early settlement.

This can be negotiated, okay, but settling this credit, of they are
guaranteeing Goldman Sachs' credit with Barça.



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