Barcelona is ready to finish its tv channel Barca TV after 24 years, with the membership saying it is not going to renew its contract with supplier Telefonica in a press release Thursday.
Reports in Spanish media say the transfer is a part of cost-cutting measures given the membership’s troubled financial state, with a supply near the channel telling AFP round 130 individuals have been set to lose jobs.
“Barcelona have told provider TBSC Telefonica, the company that manages the club’s television channel, Barca TV, they will not renew the contract for their services, which ends on June 30, 2023,” mentioned Barcelona.
The channel Barca TV had begun in July 1999 throughout president Josep Lluis Nunez’s reign.
Spanish media report the membership could use its manufacturing firm Barca Studios to create on-line streaming content material as a substitute.
Barcelona bought two 24.5 % stakes in Barca Studios to Orpheus Media and Socios.com to lift round 200 million euros (USD 220 million), which it used to signal gamers together with striker Robert Lewandowski final summer time.
The membership have to considerably scale back expenditure to satisfy La Liga monetary truthful play guidelines this summer time, to have the ability to proceed making new signings — together with the potential return of Lionel Messi.
Source: sportstar.thehindu.com