Barcelona Latest news: Barcelona sell 10% TV rights to Sixth Street – Barcelona have given themselves a major financial boost that should see their salary cap increase significantly after selling 10 percent of their LaLiga TV rights for the next 25 years to an investment firm. The deal sees Barcelona generate capital gains totaling €267million, with Sixth Street Partners making an initial investment of €207.5million. Follow all Football news and updates live on Insidesport.IN
Barcelona Latest news: FC Barcelona BOOSTED by €267m investment after selling 10% of TV rights to Sixth Street at the end of the financial year – Check out Official Statement
FC Barcelona and Sixth Street reach an agreement for the acquisition of a 10% share of the Club’s LaLiga TV rights
🔗 All the details: https://t.co/B2IRqpr0vk pic.twitter.com/09V97A1MWS
— FC Barcelona (@FCBarcelona) June 30, 2022
Barcelona Latest news: FC Barcelona BOOSTED by €267m investment after selling 10% of TV rights to Sixth Street
The investment group will subsequently receive 10 per cent of Barca’s domestic TV rights revenue until 2047.
Barca’s need for a financial injection was urgent due to their financial year ending on June 30 their accounts at the end of Thursday would have impacted the salary cap for the upcoming season.
Last year, Barca’s financial woes saw their salary cap slashed by €280m to just €97m for the 2021-22 campaign to put that into context, six clubs had larger wage limits. Real Madrid were top of the pile with a cap of €739m.
That was ultimately the reason they could not sign Lionel Messi to a new contract, but the capital injection on Thursday will allow Barca to end this financial year with a profit, thus ensuring a salary cap increase that should be significant.
The club are also expected to sell almost 50 per cent of the Barca Licensing and Merchandising (BLM) part of the business, but that is now less urgent.
Barcelona Latest news: Barcelona President Joan Laporta on the deal
“We are activating economic levers and executing on our patient, sustainable, and efficient strategy to strengthen the club’s financial footing,” said Joan Laporta, President of FC Barcelona. “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.”
“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,” said Alan Waxman, Co-Founder and CEO of Sixth Street. “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 Latest news: Barcelona BOOSTED by investment for transfers
Barca are still yet to confirm the arrivals on free transfers of Andreas Christensen and Franck Kessie, who have been strongly tipped to join. With this investment it is not confirmed if selling Frenkie De Jong will be a necessity.
Both Franck Kessié and Andreas Christensen have all paperworks signed with Barcelona, contract are ready – Barça told them and agents weeks ago that there will be no issue. ✅🔵🔴 #FCB
Just a matter of time for the official statements.
— Fabrizio Romano (@FabrizioRomano) June 30, 2022
The club are also keen on signing Bayern Munich striker Robert Lewandowski, while Manchester City’s Bernardo Silva and Sevilla centre-back Jules Kounde are reportedly key targets. Thursday’s news should allow the club greater room for manoeuvre in the transfer market.
Source: fcbarcelona.com, FotMob
Barcelona Latest news: FC Barcelona BOOSTED by €267m investment after selling 10% of TV rights to Sixth Street at the end of the financial year – Check out Official Statement
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