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Barcelona FC Must Repay Debt Of €420m (£375) This Year Or Face Insolvency

By Chris King • Published: 12 Jan 2021 • 22:47

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Barcelona Presidential Candidate Wants Mikel Arteta As Manager. image: twitter

BARCELONA FC Must Repay Debt Of €420m (£375m) This Year Or Face Insolvency it is claimed

A report recently by La Vanguardia says that La Liga giants Barcelona are in debt to the tune of €420m (£375), which must be paid by the end of this year or they could face insolvency, with the report describing the club as having let things spiral out of control.

Apparently, there is a straight €480m (£428m) long term debt, repayable over one year, and then another debt of €420m (£375m) in the short term, making a total debt of almost €900m (£803m) at the club.

Barcelona bosses have tried cost-cutting exercises this season, including asking the players to take a cut in wages, which has saved them €170m (£151m) this season, but, the terms of that deal with the players means the club has to pay them back at €45m (£40.1m) a year over the next four years.

The pandemic of course has created the problem, as the club had calculated their finances based on the stadiums being allowed to have paying fans back in, which has not happened.

Carlos Tusquets, Barcelona’s interim president, gave an interview to Catalan radio station RAC1, where he stated the club was unable to pay players for their pre-agreed January salaries.

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Written by

Chris King

Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com

Comments

    • Mucho Morales

      13 January 2021 • 03:24

      Barcelona are in deep, deep sh*t, up to their throats. No matter who is elected as a new president, it is IMPOSSIBLE to pay off 420 million euro by the end of the year. Not even a magician can do that. And most likely, they will be banned from UEFA, same as Manchester City. That means no incoming transfers for at least 3 years. That idiot Bartomeu killed Barcelona. No chance to survive.

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