FC Barcelona has secured an additional funding price greater than €300mn from Sixth Street, because the Catalan membership strikes to generate funds for its summer season switch dealings.
The deal, set to be introduced as quickly as Friday, will give the US funding group a further 15 per cent share within the membership’s media rights over 25 years, based on folks acquainted with the matter.
The San Francisco-based fund had already agreed the same deal price greater than €200mn for a ten per cent share of the financially stricken soccer membership’s rights simply three weeks earlier.
Years of overspending and the impression of Covid-19 have left Barcelona going through a pile-up of short-term money owed. Last summer season the membership was compelled to half with Lionel Messi, its longtime star participant, whereas others needed to defer wages to assist hold a lid on prices.
In a bid to restore the steadiness sheet, the membership determined final month to promote 25 per cent of its media rights and as much as 49 per cent of its merchandising and sponsorship enterprise.
The Spanish league units monetary guidelines that may block golf equipment from registering new gamers if they’re breached, pushing Barcelona to lift funds so as to conduct switch enterprise earlier than the beginning of the season.
Despite the potential obstacles, the membership has already been energetic in bringing in gamers. Polish striker Robert Lewandowski signed from Bayern Munich this week, whereas Brazilian ahead Raphinha joined from Leeds United. More massive names signings are anticipated.
The price for Lewandowski, 33, may attain €50mn together with add-ons. Following the transfer, Bayern supervisor Julian Nagelsmann described Barcelona as “the only club in the world that has no money but can buy every player”.
As nicely because the media rights offers with Sixth Street, Barcelona has introduced in money by a partnership with Spotify, the music streaming service. The three-year deal covers shirt and stadium sponsorship, which Spanish media reported would generate €280mn for the membership.
Barcelona and Real Madrid opted out of a 50-year deal struck by the remainder of the Spanish league to promote a slice of its media rights to personal group CVC, saying it supplied poor worth for cash.
Sixth Street, which has greater than $60bn in property, has been more and more energetic in sport through the pandemic. It not too long ago struck a €360mn deal to associate with Real Madrid on its stadium renovation and owns a minority stake in San Antonio Spurs, the US basketball crew.