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Saturday, June 22, 2024

Barcelona Strikes Media Investment Worth Up to $278M

FC Barcelona

FC Barcelona announced the sale of a 10% stake in its TV rights to private equity firm Sixth Street.

The deal could be worth up to $278 million.

Earlier this month, delegates for the La Liga club approved the cession of up to 25% of income from the rights for 25 years, as well as the sale of a 49.95% share of its licensing and merchandising division. 

The deal will also include streaming rights, though it’s unclear whether the team will sell the remaining 15% of the overall broadcasting rights over the 25 years. The team expected to earn roughly $635 million from the sales.

Before the vote on June 16, reports surfaced that Bank of America was in talks with the team for the rights in a deal valued at $645 million.

FC Barcelona is the latest sports investment for the U.S.-based firm.

  • Last month, Sixth Street and Legends entered a 20-year, $381 million agreement with Real Madrid for a 30% stake in future stadium revenue. 
  • Sixth Street acquired a majority stake in Legends, a sports experiences and services company, in 2021, which valued the company at $1.35 billion.
  • Last year, Sixth Street purchased a reported 20% stake in the San Antonio Spurs.

Private Payments

Barcelona declined an offer to participate in La Liga’s $2.1 billion agreement with CVC Capital Partners, which took an 8.25% stake in the league’s media rights for 50 years

“We want to recover this asset,” Barcelona president Joan Laporta said.

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