Barcelona confirmed on Thursday they had reached agreement with investment firm Sixth Street regarding the acquisition of a 10% share of the club’s La Liga television rights.
The deal is the first of the now famous financial levers to go through after members voted to authorize the sale of TV rights and a stake in Barca Licensing and Merchandizing.
Here’s the club’s official statement:
“FC Barcelona today announced a major step forward in the improvement of the Club’s financial resources and competitive positioning through a new investment from Sixth Street, a leading global investment firm highly experienced in the business of sport.
“With this transaction, FC Barcelona generates a total capital gain of €267 million for the current season. Sixth Street will initially invest €207.5 million and in return will receive 10% of the Club’s LaLiga TV rights for the next 25 years.
“The transaction is being executed after receiving overwhelming support from the Club’s members at its recent Extraordinary General Assembly.”
The deal has gone through before the end of the month, which is the end of the club’s financial year, and is important as Barca’s financial results will determine their salary cap.
Barcelona are also expected to sell a 49% stake in BLM and have previously estimated they hope to bring in around €600 million from both operations.