Barcelona will close the financial year in profit after agreeing to sell 10% of their La Liga broadcasting rights to investment firm Sixth Street.
The deal has been rumoured for some time and the club finally confirmed the news on Thursday – the final day of the financial year.
Sixth Street will initially invest €207.5m and in return will receive 10% of the club’s La Liga TV rights for the next 25 years.
Barça’s economic woes have been well documented in recent times and this injection of cash will not solve all of their issues – as president Joan Laporta was keen to point out.
“We are activating economic levers and executing on our patient, sustainable, and efficient strategy to strengthen the club’s financial footing,” Laporta said.
“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.”
Alan Waxman, Co-Founder and CEO of Sixth Street added: “We believe in the strategy Joan Laporta and FC Barcelona are implementing and are proud that one of the most celebrated clubs in football has chosen us to be its partner and capital solutions provider.
“Our team looks forward to a long-term partnership providing our flexible capital and deep sports sector expertise to support Barça as it continues to strengthen its organization and achieve its strategic objectives.”
Barcelona had been planning a major overhaul of their squad this summer but progress has been slow. Although deals for Franck Kessie and Andreas Christensen have long been agreed, they are yet to confirm either arrival.
In addition, Barça are interested in the likes of Robert Lewandowski, Marcos Alonso and Cesar Azpilicueta.
This article was originally published on 90min as Barcelona sell 10% of La Liga TV rights to Sixth Street.
Source: www.90min.com
