Spanish club Barcelona has agreed to sell 10% share of their LaLiga TV rights for the next 25 years to US-based private equity company called Sixth Street for 207.5 million euros ($215.84 million) for improving their current financial situation. The club made an announcement via a press release on Thursday.
This transaction comes under the strategy which is overwhelmingly supported by the club’s members at its Extraordinary General Assembly in June. “We continue to move forward on our strategy and are pleased to have completed this additional agreement with Sixth Street providing us with a meaningful increase in capital strength,” said Joan Laporta, President of FC Barcelona.
“Over the past few weeks, we and Sixth Street have engaged and collaborated with a shared understanding of what we are seeking to achieve for our organization, and we look forward to our long-term partnership.”
“FC Barcelona is one of the world’s premier sporting organizations, and we are glad to be expanding our relationship through this additional investment,” said Alan Waxman, Co-Founder and CEO of Sixth Street. “Our flexibility and cross-platform expertise continue to be of value to management teams when seeking to execute highly strategic initiatives.”
Whereas on the pitch, Barcelona started their US pre-season tour in incredible fashion as they thrashed Inter Miami 0-6 at the DRV PNK Stadium. Their head Xavi wasn’t with the club and Oscar Hernandez stepped up to take the job and said, “This was my first match as the head manager, but I hope it was the last. Xavi has suffered and I hope he solves the passport situation soon.”
The new Barcelona coach lauded the club’s new signing in Raphinha and said, “Raphinha is a top winger. He starts from wide, cuts inside and creates danger from there. He can shoot from long distance and help us press.”
Hernandez also emphasised on the return of Ansu Fati to action as he said, “Ansu’s return to form is a big deal. He’s a top player and we’re very happy to see him back in action.”
The Blaugrana will now face their arch-rivals Real Madrid on 24 July at Allegiant Stadium in Las Vegas.