After renting the stadium, the Barcelona administration is moving to sell part of the broadcasting rights
The Spanish newspaper "El Confidencial" reported today that the management of the Spanish football club Barcelona is in talks to sell part of the TV broadcasting rights to the "Bank of America" group for 600 million euros (645 million dollars), in an attempt to improve the financial situation of the Catalan club.
This comes days after the decision to open parts of the stadium for rent to those wishing to do so, to play matches or for other uses, outside the team’s official training and matches, in an attempt to improve the financial situation of the club, which is under debts exceeding one billion and 300 million euros.
The newspaper quoted sources, who requested anonymity, saying that the Barcelona administration had held advanced talks with the private equity company “CVC Capital Partners” to sell 8% of its broadcasting rights, but decided to withdraw from the negotiations and is now studying the alternative offer submitted. From the Bank of America group.
The newspaper reported that club members will vote on June 16 on a plan to sell 25% of the TV rights.
In a related context, the American financial services giant Goldman Sachs Group announced that it is in talks with the Barcelona club management to provide financial support.
Bloomberg news agency indicates that Goldman Sachs granted Barcelona a loan of 525 million euros.
Bank of America is also among the banks that supported Real Madrid to finance the renovation of its Santiago Bernabeu stadium.
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