Barcelona has taken an important step towards financial recovery, various Spanish media report. The Catalans are selling ten percent of LaLiga’s television rights to investment fund Sixth Street. In exchange for a 25-year ownership of those rights, the lender immediately invests 207.5 million euros in the club. It is the start of a project that the club approved internally by voting earlier in June.
Barcelona announced its partnership with Sixth Street on Thursday afternoon. The club will generate a total of 267 million euros through the deal. The investment fund will therefore initially pay 59.5 million euros less (207.5 million). However, Barça’s accountants expect the value of the TV funds to increase over the next 25 years to the agreed 267 million, which will be paid out in full by then. Mundo Deportivo†
For Barcelona, the deal means light at the end of a dark tunnel. The club has invariably reported red numbers for the past three years, including the record loss of 481 million euros over the 2020/21 season. “We are activating the economic levers and executing our patient, sustainable and efficient strategy to strengthen the financial base of the club,” said president Joan Laporta in an official statement of the partnership.
The position of external lenders was voted on at the club’s general meeting of members earlier in June. It agreed to sell 49.9 percent of the licensing and merchandise division and 25 percent of the TV rights. Laporta then spoke of a deal that should yield ‘at least 600 million’. The position of Sixth Street appears to be the first step of this. It is not known whether the club is in talks with multiple parties about a takeover to realize the rest of the promised amount.
The renowned Sixth Street has also invested 360 million euros in the Real Madrid stadium. In return, the company may “participate in new business deals involving the Bernabeu over the next twenty years,” the fund writes on its official website. The American company also contributed financially to the growth of Spotify, the new shirt sponsor of the Barcelona. “We believe in the strategy of Joan Laporta and Barcelona and are proud that one of the most successful clubs in football has chosen us as their partner,” said Alan Waxman, CEO of the company.