Barcelona is reportedly in talks to sell a stake of its television rights to Bank of America in a deal valued at $645 million.
Barcelona is looking to offload a portion of its media rights to help alleviate recent financial woes that have plagued the Spanish La Liga football club over the past year.
In March 2021, Barcelona was technically bankrupt, and three months later the club borrowed $605 million from Goldman Sachs. In October 2021, Barcelona reported $1.56 billion in debt, and the club currently has a spending cap of -$153 million — the only negative limit in La Liga.
A plan to sell 25% of Barcelona’s media rights will depend on a vote by members on June 16.
Barcelona could also sell a stake in its licensing and merchandising business for fresh capital.
CVC Capital Partners was competing for a stake in Barcelona’s media rights, but the club ended negotiations with the private equity firm after an alternative proposal was made by Bank of America.
Barcelona agreed to a long-term sponsorship deal with audio streaming platform Spotify worth $306 million in March.
Barcelona has reportedly asked its players to take pay cuts to provide the financial resources necessary to reshape and improve the team’s current roster.