FC Barcelona's financial woes have deepened after a COVID-19 hit season as the club's annual financial report shows that are currently €1,173m in debt. The amount also includes €730m of that sum due in the short term while €266m is owed to the banks by 30 June, of which €90m is owed to Goldman Sachs, reported Spanish daily Marca.
A report by Barcelona daily El Mundo also suggested that the club is on the verge of bankruptcy.
The club's first team squad was trimmed down at the beginning of the season with Luis Suarez being the high-profile exit while Lionel Messi departure is also on the cards as the Argentine star already made his feelings apparent on the way the club was handled under the previous president Josep Bartomeu.
Barca's current wage bill too paints a grim picture as it occupies 74 percent of the club’s total income and exceeds the league limit of 70 per cent, making Messi departure imminent.
Revenues for the last normal season, 2018/2019, stood at €990m, but last year they fell to €855m, which were down 14 percent. However, expenses were barely reduced by 2 percent, from €973m to €955m.
Interim club president Carlos Tusquets also gave a wide-ranging interview to Catalan radio station RAC1, with quotes carried in full by Marca, claiming that the club were unable to pay players for their pre-agreed January salary.
As per the current fiscal year report, the club is likely to incur an expense of €796m and an income of €828m.
Earlier a report by Spanish daily La Vanguardia outlined that the Catalan giants must repay €420m in debt to survive insolvency.
