football club barcelona confirmed this Thursday operation with sixth streetthe American partner of Real Madrid, which will provide the club Barca with 207.5 million euros for the transfer of 10% of its audiovisual rights.

A 25-year operation approved with 84.3 percent of the vote at the club’s last meeting on June 16, where members approved to keep the cap open at 25 percent.

This would be the financial leverage that sparked the club’s greatest interest in finding income and is the first step towards clearing the accounts and being able to enter the market with guarantees, for which Barça’s income must exceed $600m. half of that comes from the already announced BLM sale.

The agreement announced with Sixth Street came days after Laporta rejected a possible agreement with CVC to join La Liga Impulso, an agreement that would have required FC Barcelona to meet the same requirements as the rest of the teams and which provided the Azulgrana club would have 270 million. for the transfer of 10% of their audiovisual rights for 50 years.

Based on financial sources consulted and pending specific details of FCB’s Sixth Street operation, future economic flows have been estimated at the same cost of capital in both projects, despite the fact that CVC’s investment in the Impulso project is ongoing 50 years, which implies a higher risk, and was confirmed before the results of the auction of residential property rights were known. Thus, FCB’s work with Sixth Street confirms the excellent rating received by La Liga from CVC’s investment in the Impulse project. Therefore, it would not be correct to compare both transactions, setting a rule of 3 to extrapolate over 50 years the value of the current 25-year agreement reached by Barca, since the time factor (inflation) plays a decisive role in the future. the value of money.

In fact, the value of the amount that would match the FCB applying LaLiga Impulso’s valuation criteria, in the event that it was agreed within 25 years, would be very similar to the amount that Laporta finally closed over that period. time without even taking into account the possible positive impact on the valuation due to the lower risk associated with the shorter term and visibility in the domestic market.

The alliance between CVC and LaLiga, structured over a longer period and allowing a total of €1,994 million to be invested in the competition, sought to raise more capital and build a joint project that mobilizes more resources to create value and transform the competition and long-term clubs.

Sources in La Liga welcomed the arrival of long-term investors to increase competition and clubs. These sources confirm once again that the club may join the LaLiga Impulso agreement in the future if it deems it possible, fulfilling the same requirements that the rest of the First and Second Division clubs have signed.