Barcelona looking for outside investors to try to allay financial fears over COVID

Barcelona are looking for outside investments in a bid to resolve their current financial crisis, with the club proactively reaching out to a number of potential investors.

Just like every other club in world football, Barca’s finances have been hit hard due to the coronavirus pandemic, but to make matters worse, they were already in financial turmoil before the disease emerged.

FBL-ESP-BARCELONA STADIUM
Barcelona Camp Nou Stadium | JOSEP LAGO / Getty Images

They were forced to embark on a fiery first-team sale last year in an attempt to lighten the payroll, with a number of the club’s top earners traveling for relatively modest fees or free transfers.

Bloomberg reports that the club is now looking for another avenue in an effort to generate cash, with a proposal sent to investors that gives them the opportunity to buy between 30% and 49% of a new subsidiary made up of “digital assets,” world football academies. , sports knowledge group and merchandising companies ”.

U.S. investment bank Goldman Sachs Group Inc. is reportedly advising on the deal, with the new entity expected to reach € 386.1million (£ 347.9million) annually and profit € 210.7 million (£ 189.9 million) in 2024-2025. .

Although Barcelona declined to comment on the matter, their financial problems have not been hidden in recent times.

Antoine Griezmann, Ousmane Dembele
Barcelona have been making extremely expensive purchases lately | Quality sports images / Getty Images

The club have been far from shy in the transfer market, with purchases from Philippe Coutinho, Ousmane Dembele and Antoine Griezmann all ranked among the top ten transfer fees ever paid for a player.

Coupled with the exorbitant salaries on offer at Camp Nou, the La Liga club have been forced to look for other ways to try to assuage their debt which has now doubled to € 488m (£ 439.6m) , with the impact of COVID-19. their annual turnover fell by 200 million euros (180.2 million pounds sterling) last year.

With Barcelona’s presidential elections set to take place on January 24, the new man at the helm will have a huge task on his hands as they seek to balance the books at one of the world’s biggest clubs, while also trying also to deliver in the field. Success.

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