Barcelona have announced a deal that will see them raise €267 million (£229m/$277m) from the sale of 10 per cent of their La Liga television rights to global investment firm Sixth Street Partners.
Members at Camp Nou voted at an EGM on June 16 to sell 25 per cent of broadcast rights to one or more investors.
It has also been agreed that the Catalan club will part with 49.9 per cent of their Barca Licensing and Merchandising (BLM) arm, with the plan being to bring in around €600m (£514m/$623m) across both sales.
Blaugrana president Joan Laporta has said: “We are activating economic levers and executing on our patient, sustainable, and efficient strategy to strengthen the club’s financial footing.
“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.”
Why do Barcelona need the money?OFFICIAL: Barcelona announce partnership with Spotify which will see their stadium renamed to Spotify Camp Nou ???? pic.twitter.com/qI9h7Qvl9T— GOAL (@goal) March 15, 2022
Laporta revealed upon returning to office at Camp Nou for a second spell as club president that he had inherited over €1 billion (£858m/$1bn)) worth of debt from the regime of his predecessor Josep Maria Bartomeu.
Those money worries contributed to seven-time Ballon d’Or winner Lionel Messi leaving for Paris Saint-Germain as a free agent, with there no funds available to hand the Argentine a new contract.
Barca have been able to bring in players since then, such as Ferran Torres and Pierre-Emerick Aubameyang in January, but they are painfully aware of a need to balance the books.
Business off the field is aiding that cause, which should lead to benefits being seen on the pitch.Article continues below
Xavi is hoping to be in a position to bolster his ranks this summer, with Barca continuing to be linked with a number of big names.
Robert Lewandowski is the most prominent of those, with the prolific Polish striker making it clear that he would like to join the Liga heavyweights from Bundesliga champions Bayern Munich.
Further readingHow much debt does Barcelona have?The big Barcelona clear-out beginsThe 10 best Barca away kits of all time
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