July 1 – Barcelona have confirmed the sale of a 10% stake in their LaLiga TV rights for the next 25 years to US private equity firm Sixth Street.
The sale will raise €207.5 million at a time when Barcelona need the cash as they begin the redevelopment of their Nou Camp stadium and the area surrounding it. Earlier this month the club approved the sale of a minority share of their licensing and merchandising division.
“We are activating economic levers and executing on our patient, sustainable, and efficient strategy to strengthen the club’s financial footing,” said Barcelona president.
Sixth Street is not a newcomer to Spanish football having earlier this year agreed a €360 million investment in Real Madrid based around the redevelopment of the Santiago Bernabéu stadium.
“Our team looks forward to a long-term partnership providing our flexible capital and deep sports sector expertise to support Barca as it continues to strengthen its organization and achieve its strategic objectives,” Alan Waxman, Co-Founder and CEO of Sixth Street, said.
The deal will take pressure off the cashflowing of Barca’s €1.3 billion Espai Barca project.
Last week Barca announced that it will relocate to the 60,700-capacity Olympic Stadium for the 2023.24 season. Barcelona president Joan Laporta said it would only be for a season and that they would be back in the Nou Camp – though with a reduced capacity while work continues – for the 2024/25 season.
The Estadi Olimpic Lluis Companys was formerly the home of Espanyol from 1997 to 2007 and hosted the Olympic Games in 1992.
The redevelopment of the Camp Nou will see capacity increased from its current 99,000 to 110,000, including the construction of a roof.
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