The LaLiga team, FC Barcelona, has received an additional investment from a strategic investment firm, Sixth Street, which is followed by the firm’s previous acquirement of 10% of the club’s LaLiga TV rights.
FC Barcelona have managed to sell an additional 15% of its LaLiga TV rights in this second transaction. Sixth Street will acquire 25% of the club’s LaLiga TV rights for the next 25 years in total.
This deal was signed after FC Barcelona members offered to sell a portion of the team’s TV deals as well as future profits from merchandise and licencing in order to instantaneously inject €600 million ($631 million) into the debt-ridden Spanish club.
The deal advances an approach that was clearly supported by the club’s members at its Extraordinary General Assembly in June.
Sixth Street is a global investment company that manages and commits over $60 billion in assets. The firm develops motifs and offers solutions to businesses at all phases of growth by leveraging its long-term, flexible capital, data-enabled capabilities, and One Team culture.
Joan Laporta, President of FC Barcelona, said, “We continue to move forward on our strategy and are pleased to have completed this additional agreement with Sixth Street providing us with a meaningful increase in capital strength. Over the past few weeks, we and Sixth Street have engaged and collaborated with a shared understanding of what we are seeking to achieve for our organization, and we look forward to our long-term partnership.”
Alan Waxman, Co-Founder and CEO of Sixth Street, commented, “FC Barcelona is one of the world’s premier sporting organizations, and we are glad to be expanding our relationship through this additional investment. Our flexibility and cross-platform expertise continue to be of value to management teams when seeking to execute highly strategic initiatives.”