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Thursday, May 16, 2024

Linklaters counsels Santander on financing for FC Barcelona´s Laliga TV rights deal with Sixth Street

Linklaters has advised Santander on the partial financing of the transaction thanks to which FC Barcelona and Sixth Street acquired a 10% share of the Club’s LaLiga TV rights

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FC Barcelona announced a major step forward in the improvement of the Club’s financial resources and competitive positioning through a new investment from Sixth Street, a leading global investment firm highly experienced in the business of sport.

With this transaction, FC Barcelona generates a total capital gain of €267 million for the current season. Sixth Street will initially invest €207.5 million and in return will receive 10% of the Club’s LaLiga TV rights for the next 25 years.

The transaction is being executed after receiving overwhelming support from the Club’s members at its recent Extraordinary General Assembly.

“We are activating economic levers and executing on our patient, sustainable, and efficient strategy to strengthen the club’s financial footing,” said Joan Laporta, President of FC Barcelona. “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.”

“We believe in the strategy Joan Laporta and FC Barcelona are implementing and are proud that one of the most celebrated clubs in football has chosen us to be its partner and capital solutions provider,” said Alan Waxman, Co-Founder and CEO of Sixth Street. “Our team looks forward to a long-term partnership providing our flexible capital and deep sports sector expertise to support Barça as it continues to strengthen its organization and achieve its strategic objectives.”

Linklaters team advising Santander was led by partner Jorge Alegre and counted on the support of managing associate Pablo Ruíz de Assín, and lawyers Pablo Tejerizo and Cristina Yanguas.

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