After much speculation, European soccer powerhouse FC Barcelona is taking its content platform Barca Media public in a $1 billion deal with Mountain & Co. (NASDAQ:MCAA), a Special Purpose Acquisition Company (SPAC).
Barcelona is one of the most followed football clubs globally, with 421 million social media followers and 434 million TV viewers in the 2021/22 season. Barca Media encompasses the club’s audiovisual, digital, and esports content creation and commercialization. The platform also teams up with other platforms, including Disney+, Sony Pictures, and Univision.
Now, the combination enables Barca Media to tap the U.S. capital markets and FC Barcelona expects the platform to become a crucial revenue source over the coming years.
The deal pegs the enterprise value of the pro-forma company at $1 billion and upon its closing, the combined entity will trade on NASDAQ under the ticker BRME. Further, 80% of the outstanding shares will be owned by Barca Media’s existing investors.
The deal still requires approvals from MCAA’s shareholders as well as from FC Barcelona’s general assembly and is anticipated to close in the final quarter of this year.
Meanwhile, MCAA shares have inched up 7.5% over the past year and are up a further 2.6% in the pre-market session today.
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