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Barcelona Gets €267m for Selling 10% of the Club’s TV Rights

Thu 30 June 2022 | 16:01

Due to their hazardous financial year ending on June 30, Barca's need for a financial injection was urgent as their accounts at the end of Thursday would have impacted the salary cap for the upcoming season. The club reportedly has given itself a major financial boost through a capital injection.

As promised by the club president

Joan Laporta

last week, Thursday's announcement is the first such step to activate the "levers" that would ease Barcelona's financial concerns. The club reportedly has given itself a major financial boost as they sold 10 percent of their LaLiga TV rights for the next 25 years to an investment firm.

The club will gain totaling €267million from their deal with Sixth Street Partners. As a part of the deal, Sixth Street Partners will receive 10 percent of Barca's domestic TV rights revenue until 2047.

Laporta said

after the TV rights deal was announced:

"We are activating economic levers and executing on our patient, sustainable, and efficient strategy to strengthen the club's financial footing.

"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."

 

In addition to the TV right deal, The club is also expected to sell almost 50 percent of the Barca Licensing and Merchandising (BLM) part of the business. Through the pandemic crisis, Barca had their salary cap slashed by €280m to just €97m for the 2021-22 campaign. That became essentially woeful when they could not sign

Lionel Messi

to a new contract. However, the capital injection on Thursday will allow Barca to end this financial year with a profit and ensure a salary cap increase.

Barcelona

has already reached an agreement with Franck Kessie, Marcos Alonso, and Andreas Christensen but due to their financial situation, especially their struggle with the salary cap, they failed to register them yet.

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source: SportMob

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