Barcelona sells 15% of its television rights

Joan Laporta, during the Barcelona tour in the United States.

Barcelona announced the sale of 15% of the television rights to the Sixth Street investment fund for the next 25 years.

Last June, Barça had transferred another 10% to the same company, in exchange for 207.5 million for the same period of time.

In any case, as reported by the Catalan club at the time, the first transfer of television rights will generate "a capital gain of 267 million euros for the current season [2021-22]".

This time, however, Barcelona has not made the figures of the operation official.

Sources from the Barça entity told this newspaper that this second sale would leave the club close to 320 million, with a capital gain for the 2022-23 campaign of 400 million.

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Barcelona, ​​in this way, after having the approval of Goldman Sachs -the financial company had the television rights as a guarantee in the loan of 525 million that it made to the club in August 2021- adds up to about 527.5 million in the box, plus capital gains for approximately 667 million in exchange for 25% of its television income for the next 25 years.

If with the operation at the end of June, Barcelona managed to close the last financial year in positive (it was calculated that the losses could amount to 161 million) after two consecutive balances in red -97 million in the 2019-2020 academic year and 481 in 2020-2021–, with this new transfer of television rights to Sixth Street, the Catalan entity seeks to regularize its financial situation.

The Barça club has net worth in the red (450 million).

The agreement with Sixth Street allows Barcelona to clean up its own negative funds and thus stand up to LaLiga with a new and healthy financial situation.

This new context would free Barça from the pressure of the employers to register new players.

In the last salary limit of LaLiga -it is calculated from the estimated income minus the expected non-sporting expenses-, Barça was the only First and Second club in negative: 144 million.

That is to say, to register the signings, the Barça club had to abide by the 1x3 rule (to register one euro of salaries in the first team, they first had to release three).

So, if LaLiga gives the go-ahead to the new income, Barça would return to the 1x1 rule.

It would no longer be necessary for him to do economic juggling to register all his new signings (Kessié, Christensen, Raphinha and Lewandowski), plus his two renewals (Sergi Roberto and Dembélé).

Another benefit of this double operation with Sixth Street, according to the club, is the liquidity that Barça now has.

The club has already been able to repay the first debt with Goldman Sachs (the 125 million credit that Joan Laporta's presidency took as soon as he took over the club) and will now seek to negotiate with the players a reduction in deferred salaries.

“But for that we needed to have

Now we can stand in front of x player and say: How much do I owe you?

50, well here you have 35. I don't have more”, assures a source from Barça's economic area.

However, there are those who understand in the Camp Nou offices that the capital gains of 267 [for the 2021-2022 campaign] and 400 [for the current one] are not correctly accounted for.

“If the sale is for the next 25 years, a proportional income should have been allocated in each year, and not 267 in one and 400 in the other.

A fictitious income is generated”, they underline.

Transfers, for example, are accounted for according to the years of the contract.

That is to say, Lewandowski, who according to Barça has cost 50 (Bayern assured this newspaper that he transferred him for 60) and will have a four-year contract, his amortization will be 12.5 million per season.

In any case, at Barça they celebrate the agreement with Sixth Street.

“We are advancing with our strategy, which provides us with a significant increase in our financial solidity”, stated Laporta.

“Barça is one of the most important sports organizations in the world.

We are delighted to extend this new additional investment”, completed Alan Waxman, CEO of Sixth Street.

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