Barcelona receive €207m cash injection to splash on transfers
FT Desk
- 30 Jun 2022 08:45 CDT
- 3 min read
Barcelona have received a €207.5 million cash injection after officially selling 10 per cent of the club’s La Liga TV rights for the next 25 years.
The Bluagrana announced on Thursday that they have sold one-tenth of their domestic TV rights to global investment firm Sixth Street.
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Sixth Street have paid Barcelona €207.5m in return for 10 per cent of the club’s La Liga television rights for the next 25 years. This has generated a capital gain of €267m for Baarcelona for the current season.
Barcelona were forced into this deal due to their much-publicised economic crisis.
The Catalans have racked up debts of €1.3 billion and were very close last year to insolvency.
Their financial problems have also left them hamstrung in the transfer market.
Just like last year, they have been unable to pay transfer fees for any new players, while they have been unable to announce or register free transfer signings Franck Kessie and Andreas Christensen.
A recent Extraordinary General Assembly came to the decision that Barcelona had to sell some of its assets in order to balance the books.
“We are activating economic levers and executing on our patient, sustainable, and efficient strategy to strengthen the club’s financial footing,” said Barcelona president Joan Laporta.
“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.”
Alan Waxman, Co-Founder and CEO of Sixth Street said: “We believe in the strategy Joan Laporta and FC Barcelona are implementing and are proud that one of the most celebrated clubs in football has chosen us to be its partner and capital solutions provider.
“Our team looks forward to a long-term partnership providing our flexible capital and deep sports sector expertise to support Barça as it continues to strengthen its organization and achieve its strategic objectives.”
This cash injection means that Barcelona will now be able to make their mark in the summer transfer market.
Their first port of call will be to try and close a deal for Robert Lewandowski from Bayern Munich, while the signings of Kessie and Christensen should be confirmed this week.
