This post contains affiliate links. “As an Amazon Associate I earn from qualifying purchases.”
Barcelona’s financial struggles over the past 12 months are well documented, but a report in Spain has claimed that La Blaugrana is in debt of 900 million euros (804 million pounds).
The Catalan team has made no secret of how much the COVID-19 outbreak has affected them economically, as the lack of income from ticket sales leaves Barcelona unable to balance their unfathomable expenses.
The club’s leaders spent most of 2020 negotiating with players to try to convince them to agree to defer their salary to help soften the blow, and after some complicated legal disputes, a deal was finally reached in November.
Barcelona was clearly desperate for a solution, and if a report from The vanguard It is to believe, it is not difficult to see why. The club’s reckless spending in recent years has left them in debt of 900 million euros, of which 420 million must be repaid “in the short term.”
Sources close to the situation are said to have confirmed that Barcelona already plans to renegotiate with creditors after accepting that there is no way they can return that amount of money in the near future.
It will be up to the new president, who will be elected on January 24, to find a way to help the club manage such ridiculous debts, and the player’s payroll is expected to be a target.
The first team at Camp Nou earn a total of 170 million euros per season, and the club has already agreed clauses that will see the salary budget increase by 45 million euros a year until 2025, an unmanageable growth rate during the situation. current.
Economic issues are nothing new for Barcelona, which has been accused of making decisions without considering the long-term impact. One example is the € 39 million loyalty bonus promised to Lionel Messi in 2017, which was postponed over and over again and only paid out last summer, after Messi expressed his desire to leave the club.
High salaries and promises, along with costly signings such as Philippe Coutinho, Ousmane Dembele and Antoine Griezmann, have sent Barcelona’s financial situation spiraling out of control, and urgent decisions must now be made on how € 420 million can be found. in the next 12 months. .
A possible solution that is being considered is to accept another loan of 800 million euros to the fund maintained Spain Barça – the Camp Nou renovation project – and then use the income generated by that to pay off debts. insurance a smart move.
For more thanTom gott, follow him onTwitter!