The Spanish La Liga giants Barcelona have sold a further 15% of their LaLiga broadcasting rights to the strategic investment firm Sixth Street.
To handle its financial crisis, as Barcelona are facing more than $1 billion in debt, the Catalan club is selling some of their parts of assets. Last June, the club announced selling 10% of the club’s LaLiga TV rights for 25 years to Sixth Street for €207.5 million.
Earlier, the Spanish La Liga club decided to sell 25% of their LaLiga TV rights in this summer. So, they still had to sell 15% of their LaLiga TV rights to meet their target.
Barcelona sold a total of 25% of their LaLiga TV rights to Sixth Street for 25 years
Last Friday (22nd July), Barcelona announced to selling those additional 15% of their LaLiga TV rights to Sixth Street for 25 years. However, the club hasn’t clarified the exchange amount for the latest deal.
Barca had the target to generate at least €400 million by selling this additional 15% of their LaLiga TV rights. However, The Financial Times reported that the Catalan club is getting more than €300 million from the latest deal.
FC Barcelona President Joan Laporta stated on the official website, “We continue to move forward on our strategy and are pleased to have completed this additional agreement with Sixth Street providing us with a meaningful increase in capital strength. Over the past few weeks, we and Sixth Street have engaged and collaborated with a shared understanding of what we are seeking to achieve for our organization, and we look forward to our long-term partnership.”
Barcelona have already started their historic partnership with Spotify. The Catalan club is also targeting to sell just less than 50% of their Barca Licensing Merchandising (BLM). Blaugrana are reportedly expecting to generate at least €300 million from BLM selling.