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Barcelona announce ‘major step forward’ in new financial deal

Joan Laporta
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A new agreement has offered the Catalan giants a necessary cash injection to boost their financial state.

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Barcelona have activated their first financial lever by agreeing to sell 10% of their La Liga television rights to global investment firm Sixth Street, describing it as a ‘major step forward’ for their economic situation.

For the next 25 years, Sixth Street will receive 10% of Barcelona’s TV rights in the Spanish league as part of a €207.5 million deal the company has struck with the Catalan club.

This agreement will see Barca generate a total capital gain of €267 million for the current season. Therefore, with the first financial lever activated, they can close the month with a positive balance.

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“We are activating economic levers and executing on our patient, sustainable, and efficient strategy to strengthen the club’s financial footing,” the club’s president Joan Laporta said in a statement.

“Sixth Street is a proven supporter of football, an experienced investor across global sports and media, and a partner that will contribute significant knowledge and resources while allowing us to independently manage our operations.”

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What other financial levers do Barca have in store?

The Sixth Street agreement comes after club members allowed the board of directors to sell a stake in TV rights.

The other financial lever Barcelona have up their sleeve is the sale of 49.9% of their subsidiary company Barca Licensing & Merchandising (BLM). This may yield around €250 million.

The 26-time Spanish champions may also sell another 49.9% of stakes of Barca studios; plus an extra 15% of TV rights.

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Sixth Street, meanwhile, have built up quite a portfolio of sports investments recently. The global investment firm own a 20% stake in NBA outfit San Antonio Spurs. They have also injected €360 million into Real Madrid’s new Santiago Bernabeu project for the next 20 years.