“Sixth Street will initially invest 207.5 million euros and will receive the economic benefit of 10% of the Club’s television rights from LaLiga for the next 25 years”added the azulgrana club.
The agreement supposes a ball of oxygen for a club pressured by the financial tensions and will allow the azulgrana team to close the financial year this Thursday without losses.
According to the Catalan sports newspaper Sport, if this agreement had not been closed, Barça “It would have ended the economic year with losses of 150 million euros (156 million dollars).”
“With this operation, FC Barcelona generates a total capital gain of 267 million euros (278 million dollars) for this season”explained the azulgrana club, which will be able to close the year on a positive note.
After this agreement, Sixth St. will receive 10% of LaLiga payments for television broadcasts.
“We are activating the economic levers and executing our patient, sustainable and efficient strategy to strengthen the Club’s financial base”affirmed the president of Barça, Joan Laportaquoted in the statement.
“We believe in the strategy that Joan Laporta and FC Barcelona are implementing and we are proud that one of the most successful clubs in football has chosen us to be their partner and provider of capital solutions”assured, for his part, the CEO of Sixth St., Alan Waxmannalso cited in the statement.
The transfer of these television rights is one of the two economic levers approved last week by the members in an assembly to try to obtain income quickly, which will allow them to undertake signings for the next season.
In the assembly, the transfer of up to 25% of the income from television rights was authorized for up to 25 years, with which Barça can still look for a buyer for the remaining 15%.
The Barça members also approved the sale of 49.9% of BLM, the club’s company that manages the Barça stores and is in charge of selling the entity’s ‘merchandising’.
“Thanks to these operations we will have positive funds again”had stated laportato the partners when requesting authorization to carry out these actions.
“We will return the debt in a reasonable way and we will be able to make the necessary investments so that our teams are more competitive”he had added.
The US fund joins the Barcelona After signing last May an agreement with the real Madrid for about €360 million ($381 million) for the exploitation of the new Santiago Bernabeu.
The white team signed this agreement with Sixth St. and the American company Legend to monetize different activities.
According to him Financial Times and the specialized Spanish press, the real Madrid will cede 30% of the income generated by the concerts and future events organized in the Bernabeu.
A new company will be created to split those revenues, with 70% for the real Madrid and 30% for the investment fund Sixth St.to which it is linked legends.
Source: Ambito

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