Barca get 140 million euros in US loans


Spanish football giant Barcelona has secured 140 million euros ($ 158 million) in loans from two US investment funds, according to Spanish daily El Pais.

According to the report, the La Liga club have turned to the United States for funds due to their superior understanding and experience in financing sports businesses.

Pricoa Capital Group and Prudential’s Barings have reportedly loaned € 90 million ($ 101 million) and € 50 million ($ 56.4 million) respectively to provide emergency assistance in the event of a transfer need. funds. El Pais says the club do not have to repay the loans for five years and have agreed to an interest rate of 1.8% or less.

Barcelona closed last year with € 914m ($ 1.03bn) in revenue, but more than € 500m ($ 564m) was spent on player salaries. The Catalan club’s statutes prevent its net debt from exceeding double its gross operating income, which last year stood at 177 million euros ($ 200 million). Apparently, the club’s reported net debt to La Liga will be € 160m ($ 180m).

According to El Pais, Barcelona have long been looking for additional lines of credit as well as ways to restructure large transfer agreements to spread costs.

Barcelona told the Spanish outlet that the 140 million euros ($ 158 million) will not be used to fund Espai Barça, the club’s infrastructure development of 600 million euros ($ 683.8 million) ).

Despite a delay meaning the project will not be completed until 2023, the club told El Pais their intention to increase Camp Nou capacity from 99,354 to 105,000, as well as the development of a Johan Cruyff stadium from 6 000 seats and a basketball arena with 10,000 seats. be completed comfortably.

The loan comes as Valentí Daura steps down as the club’s director of operations to take on the same role at Barcelona-based Esade business school. The functions of Daura will be shared, according to the Spanish outlet Palco23, between Jordi Joly and Xavier de las Moras.

Spanish football giant Barcelona has secured 140 million euros ($ 158 million) in loans from two US investment funds, according to Spanish daily El Pais.

According to the report, the La Liga club have turned to the United States for funds due to their superior understanding and experience in financing sports businesses.

Pricoa Capital Group and Prudential’s Barings have reportedly loaned € 90 million ($ 101 million) and € 50 million ($ 56.4 million) respectively to provide emergency assistance in the event of a transfer need. funds. El Pais says the club do not have to repay the loans for five years and have agreed to an interest rate of 1.8% or less.

Barcelona closed last year with € 914m ($ 1.03bn) in revenue, but more than € 500m ($ 564m) was spent on player salaries. The Catalan club’s statutes prevent its net debt from exceeding double its gross operating income, which last year stood at 177 million euros ($ 200 million). Apparently, the club’s reported net debt to La Liga will be € 160m ($ 180m).

According to El Pais, Barcelona have long been looking for additional lines of credit as well as ways to restructure large transfer agreements to spread costs.

Barcelona told the Spanish outlet that the 140 million euros ($ 158 million) will not be used to fund Espai Barça, the club’s infrastructure development of 600 million euros ($ 683.8 million) ).

Despite a delay meaning the project will not be completed until 2023, the club told El Pais their intention to increase Camp Nou capacity from 99,354 to 105,000, as well as the development of a Johan Cruyff stadium from 6 000 seats and a basketball arena with 10,000 seats. be completed comfortably.

The loan comes as Valentí Daura steps down as the club’s director of operations to take on the same role at Barcelona-based Esade business school. The functions of Daura will be shared, according to the Spanish outlet Palco23, between Jordi Joly and Xavier de las Moras.

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