Barcelona have raised €315 million (£268m/$320m) through the sale of an additional 15 percent of their La Liga broadcasting rights. Sixth Street, a global investment firm, had previously purchased 10% of the club's television rights but have now upped their stake even further for the next 25 years.
The deal is part of a massive fundraising effort from the Catalan side to improve their financial situation and fuel further transfer business ahead of the 2022-23 season.
Explained: Barcelona's new €315m deal
The Camp Nou side's initial deal with Sixth Street for 10% of their broadcasting rights was worth around €267m (£229m/$277m).
With the latest €315m agreement with the firm, they have now brought in €582m (£495m/$591) for a total of 25% of their La Liga TV rights.
According to the Financial Times, US investment firm Sixth Street has more than $60bn (£50bn) in assets and is already in partnership with Barca's Clasico rivals Real Madrid as part of their stadium renovation.
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Barca will continue to make efforts to bring in even more capital, however, including selling 49.9% of Barca Licensing and Merchandising (BLM), the organisation which handles the club's retail and marketing.
A good deal for that stake could earn the club between €200m (£170m/$203m) and €300m (£255m/$305m) more.
Barcelona president Joan Laporta said of the long-term agreement with Sixth Street: “We continue to move forward on our strategy and are pleased to have completed this additional agreement with Sixth Street providing us with a meaningful increase in capital strength.
“Over the past few weeks, we and Sixth Street have engaged and collaborated with a shared understanding of what we are seeking to achieve for our organisation, and we look forward to our long-term partnership.”
Who will Barcelona sign next?
Barcelona have been eyeing a move for Sevilla defender Jules Kounde and could still make a late bid to sign him, even though Chelsea are close to an agreement.
The Camp Nou side are lining up several other options to strengthen their defence should they miss out on Kounde, however.
According to reports, they also have their sights set on Villarreal centre-back Pau Torres, Arsenal's William Saliba, Inter star Milan Skriniar, Josko Gvardiol of RB Leipzig, Athletic Club's Inigo Martinez and Roma defender Roger Ibanez.
Indeed, strengthening in defence is Barca's aim now having already secured the likes of Raphinha and Robert Lewandowski to improve the attack.
Why are Barcelona raising so much money?
Barcelona officials voted at an EGM in June to permit the sale of a portion of the club's TV rights and part of BLM to cut away at their huge debt and give them enough funds to build a strong team for the coming season.
After years of paying out large transfer fees and wages, the Catalan side were left in a dire situation which resulted in club icon Lionel Messi leaving for free and forced them to convince several key players to accept pay cuts.
They have already returned to their big-spending ways this summer, though, as they splashed out on the €59m (£50m/$59m) signing of Raphinha from Leeds and spent €50m (£42m/$51m) to sign Lewandowski from Bayern Munich.
Furthermore, Franck Kessie and Andreas Christensen were signed in free transfers from AC Milan and Chelsea respectively, and Ousmane Dembele agreed to sign a new contract.
They could see more money coming in by the sale of one or two key assets, the biggest being Frenkie de Jong, who continues to be linked to Manchester United.