(MENAFN) Cash-strapped Giants of La Liga for the fourth time this summer, Barcelona has sold additional assets in an effort to raise money to help register their various new signings prior to the start of the new Spanish season.
A further 24.5% of Barca Studios, the club's digital arm and production company, was sold by the club to Orpheus Media for a sum of €100 million ($102.5 million). In previous agreements, Barcelona sold a 25-year contract to Sixth Street for a further stake in Barca Studios and a 25% share of their upcoming television revenue.
The latter two transactions are estimated to have brought in about €500 million to boost the club's finances and bring them in line with La Liga spending caps. Barcelona was the only team in the top flight with a negative cap heading into the new season with arrears of €144 million at the end of the previous campaign.
Barcelona must hurry to register seven players in order to be eligible for their match against Rayo Vallecano on Saturday night. These players include high-profile additions Robert Lewandowski, Jules Kounde, and Raphinha.
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