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Barcelona sold some of its tv legal rights for far more than 200 million euros to help its finances, the club said on Thursday.
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The Catalan club said expense firm Sixth Street will spend 207.5 million euros ($215 million) in trade for 10% of the club’s Spanish league Tv rights for the following 25 a long time.
Barcelona identified as the arrangement “a key stage forward in the improvement of the club’s monetary assets and competitive positioning.”
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The club claimed the transaction lets Barcelona to crank out overall funds gains of 267 million euros ($277 million) for the present season.
“We are activating financial levers and executing on our client, sustainable, and effective tactic to bolster the club’s economic footing,” club president Joan Laporta said. “Sixth Avenue is a verified supporter of soccer, an expert investor across world-wide sports and media, and a companion that will add substantial awareness and resources while allowing for us to independently handle our operations.”
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Barcelona has been slowly but surely recovering financially immediately after struggles that led to the departure of star Lionel Messi past year.