FC Barcelona announced on Friday an agreement with investment firm Sixth Street for the sale of an additional 15 percent of the club’s La Liga television rights over the next 25 years, the second economic “lever” activated by Joan Laporta and his board to help solve the club’s financial issues.
Here is the full statement from the club:
FC Barcelona today announced an additional investment from Sixth Street, a strategic investment firm with significant experience in global sports and media, which follows the firm’s previously announced acquisition of 10% of the Club’s LaLiga TV rights.
With this second transaction, FC Barcelona has sold an additional 15% of the Club’s LaLiga TV rights. In total, Sixth Street will receive 25% of the Club’s LaLiga TV rights for the next 25 years.
The transaction continues the implementation of a strategy overwhelmingly supported by the Club’s members at its Extraordinary General Assembly in June.
“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,” said Joan Laporta, President of FC Barcelona. “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.”
“FC Barcelona is one of the world’s premier sporting organizations, and we are glad to be expanding our relationship through this additional investment,” said Alan Waxman, Co-Founder and CEO of Sixth Street. “Our flexibility and cross-platform expertise continue to be of value to management teams when seeking to execute highly strategic initiatives.”
Source: FC Barcelona
The statement does not confirm the amount of money Sixth Street will pay Barça for this second batch of shares, but reports claim the club will receive between 300 million and 400 million euros in the deal.
The money will be used to pay debts and finance a busy summer transfer window, which already resulted in the signings of Andreas Christensen, Franck Kessie, Raphinha and Robert Lewandowski.