CEM REPORT | Barcelona Football Club has further sold 15 percent of their La Liga television rights to US investment group Sixth Street for the next 25 years.
The Sixth Street will now own 25 percent of the club’s TV right, after purchasing 10 percent the preceeding week for 207.5 million euros ($215 million), according to Agence France-Presse (AFP).
“In total, Sixth Street will receive 25 percent of the La Liga club’s television rights for the next 25 years.”
Although, the club did not say how much they had been paid for the extra 15 percent, Spanish press reports put the amount at around 400 million euros.
The agreement will help the five-time European champions make new signings for next season after the arrivals of Robert Lewandowski and Raphinha.
Barcelona have been desperately trying to raise capital after struggling financially in recent years.
Last August, Joan Laporta, who returned as Barcelona president the previous November, said an audit had uncovered total club debts of 1.35 billion euros.
The club let Lionel Messi leave last June, saying they could not afford to keep him even at a reduced salary.