Barcelona FC Shows A £1.1billion Debt In Their Annual Financial Report

BARCELONA FC Shows A £1.1billion Debt In Their Annual Financial Report due to coronavirus losses

Media outlets in Spain have all been talking about Barcelona’s enormous financial debt that was exposed in their latest annual report, which puts the total at around £1.1 billion after they endured terrible losses due to the pandemic.

Spanish outlet El Mundo reported that Barca are in financial debt and ‘on the verge of bankruptcy’, owing a short-term loan of £648 million, but also another figure of £236 million which must be paid to banks by June 30.

Cadena COPE reported that the Catalan giants were unable to pay their players’ salaries last month, alleging the club has taken out another loan whilst promising the players they will get paid soon.

On the field, things are far from rosy, the club is in third position in La Liga, 10 points adrift of leaders Atletico Madrid, having dropped points in eight of their 19 matches so far this season, and earlier this month lost in the final of the Spanish Super Cup.

Doubts abound over their superstar Lionel Messi as well, whose contract expires this Summer and talk is that he will leave for sure, with Spanish sports outlet Marca reporting that Barca are in such a dire situation their only way out is by selling off some of their big names, as apparently more than 80 percent of their expenditure is the players’ wages.

Other reports say the club owes another £112m to other clubs over transfers of players Philippe Coutinho, Malcolm, and Frenkie de Jong.

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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

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