Marc Ciria: "Laporta is constantly selling Barça assets to cover day-to-day losses."

BarcelonaThe offices of financier Marc Ciria (Barcelona, ​​1979) and lawyer Joan Laporta are only a few meters apart on Barcelona's Avinguda Diagonal, next to Plaça Francesc Macià. This physical proximity is inversely proportional to the distance that separates them in their views on Barça's management. Ciria is in the midst of collecting signatures for the initiative "Stop the Sale of BLM." The goal is to gather the necessary 3,500 signatures (they have more than 2,000) that would dedicate an item on the agenda of Barça's general assembly on October 19 to discuss the future of the club's trading, the asset that generates the most money off the pitch. Ciria speaks to ARA in his office at Diagonal Asset Management, a company of which he is a founding partner and executive president.

What was the trigger that led you to seek signatures to stop the sale of BLM?

— One of them was the mess of the sale of Barça Studios, which has the potential to be a strategic area that serves as a way out of an economic situation that currently makes the club unviable. This area has been carved out by partners who have nothing to do with Barça's digital department and who serve only to cover up the gaps in a completely erratic management. We saw that we had to protect BLM.

Are you aware that Laporta's board has taken steps to sell BLM in recent months?

— Absolutely. Laporta's board has sold assets worth 850 million euros and has accumulated losses of 140 million during this term And the bylaws establish joint liability for board members if the term ends with losses. Laporta's option to avoid this is BLM, and we are aware of proposals on the table.

If these investors were strategic partners, would you also be against the sale?

— I myself, in 2021, which is something I'm being criticized for a lot now, said that the club was bankrupt because of Bartomeu's tenure and that I understood selling off a portion of the TV rights would be a way to pay off outstanding bills and find, as Laporta said, strategic partners specialized in areas we don't have the ability to develop in the short term. But who are these partners? Vestigia? NIPA? Aramark? Aramark was awarded the Camp Nou catering concession and, in return, asked to take over Barça Studios so they wouldn't have to lower their valuation and could repay 100% of the loan Jaume Roures left to register players. The same meeting of October 19 puts this as an item on the agenda. the ratification of an agreement with a partner [Novadial Corporate] of the same styleLet's stop it now.

Have you received pressure on social media since you started collecting signatures?

— I differentiate a lot between social media and members. In many cases, and I think it's obvious, social media is targeted. It's not just me; I don't want to play the victim. The team is doing well, and we don't know where we'll play each week, and members are signing our initiative. This is what interests me. Members are starting to separate the ball from management and see that this way of managing must end. Laporta is continually selling off key assets to cover day-to-day losses.

And in person?

— There are some behaviors that I don't know if they're attributable to the board or not. For example, club security members invited us to leave the Johan Cruyff Stadium while we were collecting signatures, even though we had all the permits and contracts for the people who were with us. But this is part of a management model in which the assembly is virtual and members are increasingly excluded from the club's social life.

Why do you think Laporta doesn't partner with strategic partners?

— Ideas are one thing, but then you need to work and develop a business plan. Who's up against Barça Studios? What professionals have we brought in to develop a business plan with growth prospects? If we were talking about partners like Google, Apple, or Microsoft, I wouldn't be here talking to you right now. The digital sector is so fragmented these days that it's impossible to extract value.

Barça has announced losses of 17 million euros for the 2024/25 financial year.What are your conclusions?

— The first is that we're still losing money despite selling €850 million in assets. The second is that this money now represents €140 million in accumulated losses for Laporta. Therefore, €1 billion in assets have been consumed to keep the club running and pay salaries. Furthermore, there's complete opacity because it's already October, and so far, we've only been able to see ten lines of a statement regarding the end of the financial year. How has the €157 million Locksley [the company that manages the sale of television rights] red light been resolved? Locksley's actual value is zeroWhat have we done with Barça Studios? Executive director Ferran Olivé told the previous meeting that a strategic partner was about to join. No partner has joined, and we continue to value 51% of Barça Studios at 208 million on the balance sheet. And what about the VIP seats?70 million euros will have been recorded this year, and Laporta will have attributed them as ordinary income, even though it's a multi-year concession that is extraordinary and should be accrued. The first snapshot of the 2024/25 financial year is that there are 87 million euros in losses and red flags totaling 300 million euros.

It's well known that the opposition is already moving ahead of the elections. Have you had many lunches and coffees lately?

— The person I've had the most coffees with from Barça's surroundings is President Laporta. What I won't do is refuse to have a coffee or a meal with any Barça fan who has concerns, is preoccupied with what's happening at Barça. Obviously, there have been meetings with various people. I feel more comfortable with some, and with others we have nothing to do with. And that's fine; that's the greatness of Barça. The bottom line is that I have coffees with everyone.

So I hope some of them are caffeine-free.

— Some are decaffeinated. And Vichy with gas, ice, and lemon is also good.