Sixth Street has sealed another agreement with the FC Barcelona. The investment fund took over 15% of the Barça club’s television rights, after having agreed on the initial 10% at the end of June. But for this second purchase, the North American group had to ask for help from two entities with a lot of financial power, as is the case with JP Morgan y Bank of Americawho gave a credit in order to execute said operation with Barça.
This information was provided by The confidentialwho detailed that Sixth Street requested a loan from the aforementioned entities for a total of €300 million. In Barça’s press release they did not give details of the figure agreed for 15% of the television rights of the League, but this medium can anticipate that the buying fund will inject an amount of between 320 and 330 million euros to the club, which are thanks to the support of JP Morgan y Bank of America.
Sixth Street, more than a capital group / Sixth Street
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It should be remembered that the North American investor had already injected into the FC Barcelona a total of €207.5 million for 10% of the audiovisual rights, being key so that the culé entity did not close the year in negative numbers. Both in that operation and in the most recent one, Barça will record capital gains, which between the two operations will amount to more than €600 million. A significant figure that will allow to clean up the accounts, as well as take a step forward in sports planning.
The old alliance between JP Morgan and Sixth Street
On the other hand, it is very important to point out that this is not the first time that Sixth Street request a loan from the financial company, JP Morgan. The investment fund requested a loan — without details of the figures — in an operation agreed with Real Madrid last May, which shows its great interest in doing business with the big Spanish soccer clubs.
In that agreement, Sixth Street will bring €360 million that the merengue entity may allocate to any of the activities to convert the Santiago Bernabeu in a world reference. In exchange, the investor will take up to 30% of the revenue from the Bernabéu –except the sale of season tickets– for the next 20 years, and will be able to participate in the exploitation of new derived businesses.
The indirect participation of Bank of America
The recent loan in which you have participated Bank of America gives him a somewhat indirect link with the FC Barcelona. For months now, the American company has been interested in investing in the Barça club, the first proposal being to take over the transfer of 25% of the television rights, although it ended up leading that bid Sixth Street.
Despite this, the credit given to Sixth Street allows that Bank of America have that connection with the culé entity, which continues to activate economic mechanisms with the giants of the financial industry. A fact that can be taken as dangerous, due to the possibility of losing control in the future. But it will depend on the effectiveness of the group of John Laporta to take advantage of the current capital injection.
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