Sports
Barça sells part of its TV rights to U.S. investment fund
The Catalan club reached an agreement with the U.S. investment fund Sixth Street for $215 million to try to survive the economic crisis
June 30, 2022 1:12pm
Updated: June 30, 2022 1:42pm
F.C. Barcelona announced the execution of the first economic measure to aid its battered coffers and obtain the financial resources it needs to recover and invest in signings for next season. Barça sold a percentage of its television rights for $215 million to a U.S. investment fund, the Catalan club announced on Thursday.
The club announced that the U.S. fund Sixth Street would invest 207.5 million euros (215 million dollars) in exchange for 10% of the club's television rights for the next 25 years.
El FC Barcelona y Sixth Street llegan a un acuerdo para la adquisición de un 10% de los derechos de televisión del Club de LaLiga
— FC Barcelona (@FCBarcelona_es) June 30, 2022
🔗 Todos los detalles: https://t.co/C255fvIZ0L pic.twitter.com/LJtLFwV4km
Sixth Street is a leading global investment firm with extensive experience in the sports business and more than $60 billion in assets under management.
In the words of Barcelona President Joan Laporta, the firm is "a proven supporter of soccer, an experienced investor in global sports and media, and a partner that will contribute significant expertise and resources while allowing us to manage our operations independently."
Barcelona highlighted that the agreement is "an important step in the improvement of financial resources and competitive positioning."
With this agreement signed at the Camp Nou offices, the Catalan club will be able to close the current 2021-22 financial year with a profit. If this operation had not been activated, the Catalan club's losses this year would have reached 161 million euros.
The second economic measure the club is seeking is the sale of up to 49.9% of Barça Licensing & Marketing (BLM), the company that manages the stores, online and wholesale sales, and licensed products. This second operation, given its greater complexity, will not be implemented until next season, the club reports.
With these two measures, the board of directors, chaired by Laporta, aims to gain time and provide Barça with greater financial capacity to rebuild the sporting project.
