Deal with Sixth Street so Barça can activate their first financial lever
The club are poised to sell 10 per cent of their television rights for the next 25 years for between 205-215 million euros
Barcelona can activate their first financial lever. It’s the one which refers to selling 10 per cent of their television rights for the next 25 years for between 205-215 million euros. The agreement is with the US investment fund Sixth Street Partners and may be signed on Wednesday.
The money will allow Barcelona to close the budget at the end of June with positive numbers, and it’s almost been sealed in extra-time, with Thursday the last day to close the budget. The deal arrives after rejecting CVC, Goldman Sachs and Bank of America, who were also interested.
The deal could be announced on Wednesday along with a press conference from Barcelona president Joan Laporta, to explain the details of the agreement.
Sixth Street, who were founded in 2009 by a group of people who had worked at Goldman Sachs, have invested in various companies through their history, including Spotify, Barcelona’s main sponsors. They have also invested in NBA sides like the San Antonio Spurs and this isn’t their first dip into the football world after injecting 360 million euros into Real Madrid’s new Bernabeu project over the next 20 years, in an area concerning new business and commerce.
The other financial levers should be pulled in time, including the sale of 49.9 per cent of the club’s licensing and merchandise.
They are also thinking about the sale of 49.9 per cent of Barça Studios and potentially selling 15 more per cent of their TV rights.
