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Barcelona In €470m Debt As Club Braces For Financial Losses In Coronavirus Crisis: Report

Barcelona are currently in a tough spot with a €470m debt over their heads but club vice president Jordi Cardoner explains how the situation is manageable.

Barcelona

The coronavirus outbreak has wreaked havoc on nearly all sporting events across the globe and caused an unprecedented financial crisis for some major clubs in Europe. The Barcelona debt story has been all over social media after vice president Jordi Cardoner revealed that the Spanish side are facing up to €470 million in dues. In order to mitigate the Barcelona financial loss amid this time of crisis, the Barcelona players pay cut was agreed upon. However, Cardoner insisted that the steep Barcelona debt remains manageable.

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Barcelona financial loss: Barcelona players pay cut

While speaking to ESPN, Cardoner explained that with the halt of football since early March, the Barcelona financial loss is expected to amount between €120 million to €140 million. This sum includes the loss from the TV income, commercial and matchday revenue, which has gone down the drain since the coronavirus outbreak that has suspended football in the Spanish top flight. The 57-year-old confirmed the Barcelona financial loss for this year and explained that spending in the future might need some cutting down.

The Barcelona players pay cut was agreed upon to redistribute income to the 500 non-playing staff at the club. Lionel Messi took to social media to broadcast his message on the Barcelona players pay cut:

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

A post shared by Leo Messi (@leomessi) on

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Barcelona players cut: Barcelona debt of €470m

Cardoner spoke about the Barcelona debt due to the coronavirus crisis and was grateful for the positive response from Lionel Messi and co. over the Barcelona players pay cut. However, the crisis is expected to lower the ticket revenues from next season onwards, which would further affect the Barcelona debt. The Spaniard opened up on the Barcelona debt, which amounts up to €470 million but Cardoner stated the debt is by all means manageable. Cardoner revealed that the club made profits of €190 million between 2011 till 2019 and will dig into those reserve funds to make the current losses bearable.

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Barcelona debt: Barcelona financial loss solution 

Cardoner predicts that clubs will decide to swap players for cash in the near future. Due to the coronavirus outbreak having a massive impact on the financial aspects of the game, clubs might opt to swap a player from one club to another instead of paying the transfer fees. With Neymar being at the top of Barcelona's transfer wishlist, it remains to be seen how a potential move from PSH to the Camp Nou could take place over the summer.

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