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FC Barcelona request banks to delay debt payments due to financial crisis

Football News

marca.com

In recent months, the uncertain and troubling financial situation has been at the forefront of the Barcelona news and a study published in El Confidencial on Friday may raise more alarm.

It is reported that the Catalan giants have asked Goldman Sachs, Allianz, Barings, Amundi, and Prudential companies to defer unpaid debts so that future insolvency can be avoided by the club.

In the paper, the club is said to have demanded a dispensation from the banks and investment funds for failure to comply financially, which would suggest a non-payment of EUR 200 million.

Barcelona is said to have a negative working capital of EUR 601,8 million and an impending debt of EUR 300 million, which they have asked to be postponed.

In the 2019-20 season, the club accounts reveal that Barcelona’s debt had more than doubled amid a highly troubling financial performance.

As outlined by Marca late last year, the club’s financial figures revealed that the club’s debt increased from EUR 217m in June 2019 to EUR 488m in June 2020.

While this year the first-team squad of the club has been slimmed down, with a projected €80m off the wage bill, the club still has a troubling financial outlook.

Interim club president Carlos Tusquets gave the Catalan radio station RAC1 a wide-ranging interview, with quotes carried in full by Marca, saying that the club was unable to pay players their January pre-agreed salary.

Due to the Covid-19 pandemic, the club’s presidential elections were postponed, adding another layer of confusion and delay to the situation.

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