FC Barcelona has agreed to sell a 10 per cent stake in its media rights to US investment group Sixth Street, in a deal that will deliver more than €200mn to shore up the Spanish football club’s troubled finances.

The deal, announced on Thursday, will hand Sixth Street a slice of the Catalan club’s media rights for a 25-year period. The club may consider selling another 15 per cent stake later this summer, according to people familiar with the matter, which could allow Sixth Street to increase its share further.

Barcelona’s financial health has been hampered by a pile-up of short-term debt obligations after a season that began with the departure of its longtime star, Lionel Messi. The club’s president Joan Laporta had likened its finances to a Formula One racing car that has run out of fuel, but said his aim was to “leave the pits and return to the front row of the grid to compete and win again”.