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Barcelona Debt Close To €1bn

Barcelona Debt Close To €1bn

Barcelona’s debt is continuing to grow and now stands at around €1bn (£890m), according to a report.

The Catalan club had been expected to break the €1bn barrier for incomings this financial year, only for the coronavirus pandemic to blow those projections off course.

La Vanguardia claims that Barcelona are now trying to stave off insolvency as they owe a near-ten-figure-sum to creditors.

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It is claimed that €420m (£376m) of that debt has to be repaid in the next 12 months, making it the top priority for Barcelona’s next president, with elections set for later this month.

Each candidate has accepted that the club’s wage bill must be slashed, while incoming activity is unlikely in the winter and summer transfer windows.

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