Barcelona have agreed a deal with Sixth Street that will see them sell off 10% of their TV rights for the next 25 years. This will allow them to receive a sum worth €267 million for the ongoing season.
Sixth Street is a global investment firm, which has over $60 billion in assets. The transaction is one half of the economic levers that were discussed at Barcelona’s general meeting recently.
Barcelona announce sale of TV rights to Sixth Street
“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 the Catalonian side.
“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 are also set to revamp their merchandising, which is the other economic lever that has been discussed by Joan Laporta. This will allow the first team to register new players and add to the squad ahead of the new season. Their quest to sign Robert Lewandowski has been deterred mainly due to their financial constraints. Moreover, their offer for Raphinha has been rejected for the same reason.
The influx of cash will allow them to clear their debts for the time being and will also allow them to get back on their feet on other financial fronts.