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Barcelona ‘are approaching a BILLION EUROS in debt with almost half of it to be paid within a year’, leaving the club facing more cuts to avoid insolvency
- Barcelona’s financial situation has been impacted massively by coronavirus
- The club’s debt has grown following a sizeable hit to the LaLiga side’s income
- It means a period of austerity looms for them as they fend off insolvency
Barcelona‘s growing debt is set to force the club into a period of dramatic austerity, with the Catalan giants owing nearly £1billion to creditors.
The LaLiga side announced during the 2019-20 season that it expected to be the first club to break the £1bn barrier for income in a single year in football, however that figure was blown off course by the coronavirus pandemic.
As a result, the club took a loss of almost $100m (£73.5m) for the campaign, and there are concerns this season could be worse.
And according to Spanish outlet La Vanguardia, that has added to the total the club owes, with a net debt of €500m being topped up by a ‘runaway’ deficit amounting to more than €400m.
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