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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.

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.

“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.”

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.

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.