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Barcelona secure huge loan to safeguard immediate financial future

Barcelona have formalised a deal with Goldman Sachs that will "buy them air for 18-months".  The...



Barcelona secure huge loan to...
Soccer

Barcelona secure huge loan to safeguard immediate financial future

Barcelona have formalised a deal with Goldman Sachs that will "buy them air for 18-months". 

The Catalan giants are in dire straits financially, with club president Joan Laporta revealing earlier this week that the their debt totalled €1.35billion.

Laporta told a press conference that Barcelona's net worth is now negative €451million, with "a salary bill that represents 103% of the club's total income".

Highlighting their weak position, they were forced to end negotiations with club legend Lionel Messi, who has since signed a lucrative contract at Paris Saint-Germain.

Players like Gerard Pique were asked to reduce their salaries so the club would be able to register summer signings like Memphis Depay and Eric Garcia. Laporta said other senior players would be asked to do the same.

Now, both Mundo Deportivo and Sport have revealed that Barça have been given some breathing room.

It's reported that the club have struck a €595million deal with investment bankers, Goldman Sachs.

The deal is broken down into a €455million loan, and the restructuring of €140million of Barcelona's debt. The loan is for 10-years, with an interest rate of 1.98 per cent.

The arrangement was signed off upon on Thursday, and saw Barça's television revenues used as collateral.

Previous loans secured by the club had an interest rate of around 6 per cent, so this will be viewed as something of a 'win' for Laporta and co.

Barcelona are also continuing to work towards securing financing - likely in the autumn - for the regeneration of their Camp Nou stadium. They remain hopeful that work can begin as soon as 2022.

Meanwhile, head coach Ronald Koeman insists that Philippe Coutinho does have a future at the club.

With fat being trimmed across the club, it was expected the former Liverpool playmaker would find another club this summer.

But speaking on Friday, Koeman said, "Coutinho can play in various positions.

"He can come in from the left wing. We have lost goals with Messi and we have to look for them in others. Philippe is one of them."

But the Dutchman has conceded that both Samuel Umtiti and Miralem Pjanic are unlikely to continue their careers at Barça beyond the closure of the transfer window.

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Read more about

Barcelona Joan Laporta La Liga Lionel Messi Miralem Pjanic Philippe Coutinho Ronald Koeman Samuel Umtiti Sergio Aguero

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