La Liga: FC Barcelona takes 500mn Euros loan from Goldman Sachs to overcome financial burden

La Liga: Barcelona President Joan Laporta took a huge step and secured a loan worth 500 million euros from Goldman Sachs.

La Liga, Barcelona debt 2021: Barcelona President Joan Laporta took a huge step and secured a loan worth 500 million euros from the investment bank, Goldman Sachs. The Spanish giants have been facing a financial crunch after the Josep Maria Bartomeu era, and there have been concerns over whether the club would be able to pay both their players and recruit new ones in the summer.

According to L’Esportiu, FCB has obtained the loan on Tuesday Morning, with the money likey refinancing part of the debt, easing the short-term pressure on the club hierarchy.

This credit will give air and stability to the club, we can be calm this season and next season,” Barcelonasources explained, quoted the Spanish newspaper.

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We have looked at what could be the worst-case scenario, that fans don’t enter the stadium throughout next season. Even so, we can be calm after this operation.

La Liga, Barcelona financial crisis: The report further added that Goldman Sachs had offered the club favourable conditions with regards to payment, far better than any normal bank would offer. Furthermore, this fiscal operation will be separate from the plans to fund the reconstruction of Camp Nou and the surrounding areas.

La Liga: An unsavoury audit for Barcelona

As part of the protocol when a new president takes over, a financial audit took place to assess Barcelona‘s finances, and according to the administration, the audit found that the club had deficiencies and some unethical payments were found.

The report showed a debt of 1.173 billion euros, 750 million euros, which has to be settled in the short term.