Fc Barcelona’s second economic lever worth$408 million was activated
FC Barcelona has used its second economic lever of the summer, giving 15% of their television rights for the next 25 years to American investment group Sixth Street in exchange for a total financial gain of €400 million ($408 million).
The news was broken by SPORT in Catalonia on Thursday afternoon, and it comes after Barcelona sold 10% of their broadcast rights to the same company for a total capital gain of €267 million ($272 million) at the end of June.
According to SPORT, Barcelona is already working on activating a third lever in order to register their new recruits, which will cost around €100 million ($102 million).
Raphinha and Robert Lewandowski have joined the Blaugrana from Leeds United and Bayern Munich, respectively, and Franck Kessie and Andreas Christensen have joined Xavi Hernandez’s first team squad as free agents.
However, by activating the first two levers, Barcelona will be able to wipe off a negative balance of about €550 million ($561 million) of their debts, allowing the club to switch from La Liga’s 1-3 regulation to the 1-1 rule, which allows them to spend one euro for every euro that comes in.
Negotiations for the second lever have been more difficult than those for the first, according to SPORT. This is due to the fact that when Barcelona received their €595 million ($607 million) loan at the outset of Joan Laporta’s mandate last year, the president put down 90% of the club’s broadcast rights as security.
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