F.C. Barcelona Is Selling Additional TV Rights Stake to Sixth Street

Barca, the European football club formally known as FC Barcelona, has reached an agreement to sell an additional stake in the team’s LaLiga media rights to private equity firm Sixth Street, according to a person familiar with the matter.

Sixth Street, which agreed in June to buy 10% of the television rights for $217m, is now buying an additional 15% for about $317m, said the person, who asked not to be identified because the matter isn’t public.

For Barca, a soccer club owned by its fans, the sale boosts capital gains and shores up finances impacted by large contracts used to lure star players. Barca President Joan Laporta said in a previous statement, “We are activating economic levers and executing on our patient, sustainable, and efficient strategy to strengthen the club’s financial footing.”