GARY NEVILLE has shared his theory as to why skint Barcelona are flogging a chunk of their TV rights to fund a huge transfer spree in a rant on Twitter.
On Friday morning, the cash-strapped Spanish giants – £1.2BILLION in debt – mortgaged off another massive chunk of their future income to stay afloat.
Gary Neville has shared his theory as to why Barcelona have sold off a share of their future TV rights Credit: Getty
Barcelona have been big spenders in the summer, including the recent capture of Robert Lewandowski Credit: EPA The Nou Camp outfit had already sold a 10 per cent share of the next 25 years of TV income to San Francisco-based investment group Sixth Street for around £170million.
But now, following the arrivals of Robert Lewandowski, Raphinha, Andreas Christensen and Franck Kessie, the club has confirmed it will sell a further 15 per cent to the same company for £255m.
The deal allows Barcelona to continue its massive summer recruitment spree – but could lead to a massive hit in long-term income.
Barca’s TV income has averaged £132m per season over the past five years.
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Frenkie de Jong new UPDATE, £51m Endrick chase, Martial future latest Even if there is no inflation in value, that would stack up to £3.3bn over the 25 years, meaning the club has sold a stake worth £825m for £425m – a little over HALF of its true value.
And Manchester United legend Neville has slammed the club for gambling on their own future in the “hope” it pays off down the line.
On the club’s latest surprising bit of business, Neville tweeted: “Why are @FCBarcelona still pursuing the Super League? This is why!
“A desperate club £1.2bn in debt selling future revenue streams to spend on players today in the ‘hope’ it pays off!
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“Rolling the dice stuff this with a giant of a club.”
In addition to the TV rights sale, Barcelona are in the process of disposing of 49.9 per cent of the club’s marketing arm, worth a similar sum.
While Nev has questioned the decision, clubs chiefs clearly felt this was the way to get them back on top of Spanish football – and their own finances.
Barcelona have been treading water in recent seasons, with Real Madrid storming to the league title by 13 points last term.
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Primary school teachers reveal the end of term gifts they hate With the club in huge debt, LaLiga rules have demanded they had a salary and spending cap of MINUS £123m.
But with the club in dire need of reinforcements if they are to compete domestically and in the Champions League, chiefs have decided to take a long-term hit in the hope it see them enjoy the footballing and financial benefits of winning tournaments.
Source: Soccer - thesun.co.uk
