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Building D5
Fairoaks Airport
Chobham
Surrey
GU24 8HU
Tel: 0871 399 0089
Fax: 01276 858010
View map
|
Barcelona looks for loan to pay delayed players wages
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Spanish La Liga champions Barcelona is negotiating a €150 million bank loan with several unnamed banks after missing its players’ wage payment deadline.
Last week Barcelona announced a revenue increase of 16 per cent to €445.5 million and profits of €9 million to become the world’s richest club. However, expenses rocketed as €40 million was paid in bonuses for players and coaches last year. Newly-elected president Sandro Rosell, who recently replaced Joan Laporta, said he took over a club full of debts and cash flow problems: “Our members can be reassured. The club is not bankrupt. “This week we will already have all the tools to implement an austerity policy, so that we can save money on items that are not necessary meet such important commitments such as pay the wages of our players, coaches and employees.” The club’s main revenue stream, its €1 billion television rights deal, is now in jeopardy as the rights-holder, sports agency Mediapro, filed for bankruptcy protection. Although Barcelona says it received assurances from the agency over outstanding payments, unlike Real Madrid’s contract with Mediapro, the Catalan club agreement is not secured by bank guarantees. |
