Barcelona have announced the sale of 10% of their La Liga television rights to American investment firm Sixth Street Partners for the next 25 years.
The new deal will reportedly see them raise €267 million (£229m/$277m), but they still need to sell off more of the club if they are to move freely in the transfer market.
However, the deal means that the Catalan club can close the financial year without losses. Still, it does not automatically mean they can register their new signings Franck Kessie and Andreas Christensen La Liga or easily push on with their bid to sign Robert Lewandowski.
Speaking about the new deal, Blaugrana president Joan Laporta said via GOAL:
“We are activating economic levers and executing on our patient, sustainable, and efficient strategy to strengthen the club’s financial footing.
“Sixth Street is a proven supporter of football, an experienced investor across global sports and media, and a partner that will contribute significant knowledge and resources while allowing us to independently manage our operations.”
Meanwhile, last week Barcelona board members voted in favour of selling off part of its retail arm, Barcelona Licensing and Merchandising (BLM) and part of its future TV rights revenue.
At the time, club president Joan Laporta said the deals could raise up to €700m (£600m). But so far, progress has been slow in closing the deals.
Although they are moving in the right direction, they are still below the sum of money they need to invest to be able to start bringing in new players.
But they still have time to sell off further chunks of TV rights money and the BLM parcel, which will help them pay player salaries and add a few players to their squad.
