• Thursday, March 28, 2024
businessday logo

BusinessDay

Barcelona secure €140m loan from US investment firms

Barcelona

In a move to boost financial strength and finance the signings of new players, Laliga outfit, Barcelona FC have secured a €140 million loan from two US investment funds, with 1.5 percent interest for the period of five years.

The Catalans, who used to get such money boost through several deals with major banks, have assured that the financial situation of the club is stable.

As reported by El Pais, the Blaugrana highlight the fact that the Josep Bartomeu board have generated profits over the last seasons and they didn’t rule out needing the money to finance signings.

Ajax midfielder, Frenkie de Jong, has already signed for this summer on a €75million fee, plus €11million in add-ons and although the idea is compensating such transfers with sales, Barcelona want to make sure there is money available at any moment.

On the other hand, Victor Font, who has recently announced his decision to stand for election to the presidency, has expressed his concerns on the current board’s financial policy.

“They don’t generate enough resources and ordinary expenses are higher than revenues, so you have to sell players to avoid generating losses and that’s a time bomb,” he said.

“The debt raise is superior to that explained by the club.”

 

Anthony Nlebem