After securing a bank loan to help clear some of the club’s debts, Barcelona president Joan Laporta is allegedly looking to make a statement signing this summer. The Blaugrana are in debt to the tune of over €1 billion, which seems to have dashed all dreams of big-money signings shortly. Furthermore, their new generation of players is owed salaries dating back to January, reflecting the club’s precarious financial situation. Read more about Barcelona Transfer News here.
However, according to ESPN, Laporta has been able to support the club’s finances by securing a €500 million loan from an American investment bank.
Laporta intends to use €100 million of it to repay some of the money owing to the new team from their January installment, but they will be due another payment at the end of the season. Another €265 million is owed to the banks by the end of June, with a further €100 million owing on previously agreed-upon transfer clauses.
Laporta has done a good job of buying time for Barcelona. It includes committing to a phased repayment plan for part of their debt. And the club will not have to sell naming rights to their stadium or a stake in Barca Corporate. It manages a lot of its off-field business operations, at least for the time being.
Barcelona Transfer News | How Barcelona will use the Loan amount
While it is unclear how Barcelona will use the remainder of its line of credit. The consensus within the club is that it will be used to cut costs. And offload any players who are no longer needed. Philippe Coutinho and Samuel Umtiti are among the actors rumored to be up for sale if the right offer comes in.
Meanwhile, the club has been forced to search for transfer opportunities in the free agent arena. It has lined up some respectable choices. Choices include Eric Garcia of Manchester City and Memphis Depay of Lyon. Both of whom are set to join this summer.
Barcelona is still interested in Liverpool’s Georginio Wijnaldum and Manchester City’s Sergio Aguero. Neither player seems to be getting closer to signing a contract with the Catalan club at the moment. Facing their financial constraints, Laporta is also looking to sign a big-name player this summer. The signing will be made to improve the club’s chances of winning the Champions League or La Liga next season.
Erling Haaland was recently linked with a transfer to the Nou Camp. Barcelona is also believed to have made contact with Harry Kane’s representatives. That’s on top of the two-year deal offered to Lionel Messi in an attempt to retain him at the club.
It seems that Barcelona’s accountant will have a busy summer.
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