“In March 2021, the situation was of accounting bankruptcy, but as a sports association it was possible to refinance the debt”explained To reverse, who claimed that there was even “difficulty paying payroll” due to the “no cash flow”.
To face these problems, the Barça club requested a loan of 80 million euros ($ 92 million) “to cover treasury obligations for a period of 90 days”, as well as a debt refinancing of 595 million euros ($ 686 million) to meet short-term obligations.
According to this audit, which covers the management of the club during the 2018-19, 2019-20 seasons and the nine months of 2020-21 until March 31, during that time there were “a disastrous management”, according To reverse, which highlighted that “They bought players in a crazy way”.
“We have the feeling that when we signed players it was not planned if they could pay. The same night that they signed Griezmann they realized that there was no money to sign him and they had to ask for money from a fund”, assured To reverse.
The wage bill soared 61% in that period, going from 471 to 759 million euros (543 to 876 million dollars), affirmed the general director of Barça, specifying that the club has already managed to reduce by 155 million ($ 179 million) the salary bill of the first team.
To reverse It also revealed the payment of intermediation commissions unusual in transactions involving transfers of “between 20% and 30%” when the usual is 5%.
Despite these problems, To reverse affirmed that the new board has a viability plan that has been well received by investors and in the budget for the current season the club expects to make a profit of “5 million euros ($ 5.8 million) “.
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