Barça’s president solves financial concern in first 100 days
Barcelona, ??Jun 25 (EFE).- Joan Laporta marks his first 100 days as the president of FC Barcelona relieved of one of the club’s financial issues after he secured a 525 million euro loan from US investment bank Goldman Sachs.
This step will provide the LaLiga giants with “the necessary liquidity over the next 24 months” and clear the path to implementing a plan aimed to increase the club’s revenue without treasury tensions, according to Barça’s economic vice president, Eduard Romeu.
The club plans to formalize this operation in August, aiming to obtain an interest of 3% and a maximum loan term of 15 years.
This liquidity is essential to settle the Catalan side’s short-term debt of 730 million euros of the overall 1.2 billion euros.
In addition, the general assembly at the Camp Nou on Sunday announced that Barcelona requested a bridge loan of 80 million euros to cover treasury obligations for a period of three months and pay 57 million euros in player’s wages.
This issue is Laporta’s great stumbling block on an economic level.
In his first press conference last month, he explained the “current wage bill is 110% of the predicted income,” hovering around 650 million euros between salaries and amortizations.
LaLiga president Javier Tebas said: “Barça takes the cup of losses” during the presentation of the economic report for the 2019-20 season on Monday.
The intention is to get rid of big salaries of players who have not lived up to their potential such as Samuel Umtiti, Philippe Coutinho, Sergi Roberto and Ousmane Dembélé, France’s forward who recently sustained a serious knee injury during Euro 2020.
The regulations of the UEFA Financial Fair Play stipulate that clubs pay no more than 70% of their income in wages.