Barcelona sell 10% of TV rights for next 25 years to US firm Sixth Street - harchi90

Barcelona sell 10% of TV rights for next 25 years to US firm Sixth Street

Barcelona have agreed a deal to sell 10 per cent of their La Liga TV rights for the next 25 years to global investment firm Sixth Street Partners.

The deal will generate €267 million of revenue for this season’s accounts, with Sixth Street initially investing €207.5 million for its share of Barcelona’s TV rights.

Barcelona members agreed at an EGM on June 16 to sell up to 25 per cent of their La Liga TV rights to one or more investors.

The members also agreed to sell 49.9 per cent of the Barca Licensing and Merchandising (BLM) arm of the club, in order to raise capital to balance the books for the 2021-22 season.

The club said they hoped to make €600 million from both arrangements, in order to turn a profit and allow them to “make Barca a competitive team”.

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

“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.”

Barcelona needed capital by the end of June 30 because that represents the end of their financial year, the results of which will determine the salary cap that La Liga will allow them a month later.

Barcelona’s dire financial situation has been well-documented, with Laporta inheriting debts in excess of €1 billion from his predecessor Josep Maria Bartomeu.

Those debts and the resulting wage cap imposed by La Liga saw the club unable to offer Lionel Messi a new deal last summer.

Barcelona’s deal with Sixth Street comes months after they — and Real Madrid — rejected La Liga’s deal proposed €2.7 billion deal with CVC Capital Partners.

Barcelona’s vice president for finance Eduard Romeu confirmed on June 9 that the Catalan club will reject the CVC deal.

That deal, which was agreed by Spanish clubs last year, sees a 10 per cent share of La Liga’s TV revenues sold to CVC.

Barcelona, ​​Real Madrid, Athletic Bilbao and the Spanish FA, however, have launched a lawsuit against that deal.

Romeu, meanwhile, added that €500 million was needed to “save” Barcelona, ​​ahead of the 2022-23 season.

Barcelona have agreed deals to sign Chelsea’s Andreas Christensen and AC Milan’s Franck Kessie on free transfers, but have been unable to register them due to their financial constraints.

In order to help register new arrivals and ease their restrictions last season, Gerard Pique, Jordi Alba and Sergio Busquets all took salary cuts to aid Barcelona’s situation, with Samuel Umtiti restructuring his contract.

(Photo: Getty Images)

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