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Goldman Sachs eases Barca’s cash crunch with a € 500 million loan – Soccer Sports

May 20 – Spanish giant FC Barcelona has secured a € 500 million loan from US bank Goldman Sachs to ensure the club’s operations remain stable for the next two years.

Some clubs are too big to fail – or seem to be. FC Barcelona has found new funding to highlight the clubs it cares for in the near future. New President Juan Laporta has negotiated credits with investment banks to provide a lifeline for clubs on the verge of bankruptcy throughout the season.

The Catalan daily L’Esportiu reported that investment banks had an immediate effect on releasing 100 million euros and easing the club’s situation.

The club’s recent annual report revealed a huge debt of € 1.173 billion that Barcelona was required to provide services of € 730 million in the short term. The breakdown of these debts is € 263 million for bank loans, € 160 million for members of staff who have deferred wages, and € 200 million to cover fixed income loans.

Clubs are free to use their loans, but it is doubtful that new loans will stop financial Armageddon in the future without radical cost control. Barcelona’s annual report already shows that the club’s liquidity is limited, with liquid assets of € 368 million and long-term illiquid assets of € 281 million. Over 55% of Barcelona’s wealth is occupied by “intangible sports assets” and assets.

Contact Samindra Kunti, the author of this story. moc.l1621518647labto1621518647ofdlr1621518647owedi1621518647sni @ o1621518647fni1621518647

– Soccer Sports

Goldman Sachs eases Barca’s cash crunch with a € 500 million loan

http://www.insideworldfootball.com/2021/05/20/goldman-sachs-ease-barca-cash-crunch-e500m-loan/ Goldman Sachs eases Barca’s cash crunch with a € 500 million loan

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