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Barcelona sold out The club said on Thursday that some of its television rights are worth more than 200 million euros to help finance it.
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FC Barcelona club president Joan Laporta stops during a news conference on August 6, 2021 in Barcelona, Spain. Spain Barcelona members late on Thursday approved plans to sell off a portion of their television rights and future revenue and licenses in hopes of injecting an injection. An immediate 600 million euros ($631 million) in the debt-ridden Spanish club.
(AP Photo/Joan Monfort, FILE)
The Catalan club said investment firm Sixth Street would invest 207.5 million euros ($215 million) in exchange for 10% of the club’s Spanish league TV rights for the next 25 years.
Barcelona called the agreement “a major step forward in improving the club’s financial resources and competitive position”.
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Lionel Messi of Argentina doubles for the ball with Sumets Marcus of Estonia during the international friendly match between Argentina and Estonia at Estadio El Sadr on June 05, 2022 in Pamplona, Spain.
(Photo by Juan Manuel Serrano Arce/Getty Images)
The club said the transaction allows Barcelona to generate total capital gains 267 million euros ($277 million) for the current season.
“We are activating the economic levers and executing on our patient, sustainable and efficient strategy to strengthen the club’s financials,” said club president Joan Laporta. “Sixth Street is a proven supporter of football, a seasoned investor in the global sport and media, and a partner who will contribute significant knowledge and resources while allowing us to manage our operations independently.”
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Lionel Messi of Argentina celebrates after scoring his team’s fifth goal during the international friendly match between Argentina and Estonia at Estadio El Sadr on June 05, 2022 in Pamplona, Spain.
(Photo by Juan Manuel Serrano Arce/Getty Images)
Barcelona is slowly recovering financially after the conflicts due to which Star Lionel Messi departs Last year.