Barcelona report shows crippling debts | Ralph Lauren

Must Read


Barcelona have crippling short-term debts of 730 million euros ($A1.1 billion) according to the club’s financial report for the 2019-20 season, a Spanish newspaper reports.

The short-term debt includes payments of 266 million euros owed to banks and other financial institutions that need to be paid by the end of June, Spanish sports daily AS reported on Monday.

That amount includes 197 million euros owed to other clubs for players signed by Barcelona, including 40 million euros still owed to Liverpool for Philippe Coutinho.

According to Catalan newspaper El Periodico the club is trying to secure a further loan of 100 million euros tied to the future sale of players in order to meet the immediate short fall.

Barcelona have been hit by the financial consequences of the coronavirus pandemic wiping out football tourism. They have had to play in an empty stadium since last March.

Last October the club projected losses of 97 million euros for the 2019-20 season and the full financial report confirmed revenue had fallen by 14 per cent year on year.

The club had hoped stadiums would be 25 per cent full again by February, 50 per cent full again by May and at capacity before the end of the season. That now looks extremely unlikely.

The club is due to announce a new date for elections to pick a new president on Tuesday.

Candidates Joan Laporta, Victor Font and Toni Freixa were all made aware of the latest numbers before they were made public.

Barcelona fans are hoping Lionel Messi will sign a new contract before his current deal runs out this summer.

But the figures also revealed Barcelona’s wage bill currently takes up 74 per cent of revenue.


Source link

Leave A Reply

Please enter your comment!
Please enter your name here

Latest News

CBD Oil Australia: Must check these details

Cannabidiol (CBD) is a chemical that is found in the Cannabis sativia plant, also known as cannabis. A cbd oil contains almost...

More Articles Like This