Waiting for players to be sold, Barça closes much-needed loan

It is a 595 million loan, 455 million in new financing and 140 million in renegotiation of part of the club's debt

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Laporta, during the press conference

BarcelonaJoan Laporta could breathe a little easier when he signed the papers to formalise a 595 million euros credit, with a 1.98% interest rate and a 10-year duration. After reaching the presidency of a club that was one step away from bankruptcy financially due to the mismanagement of the previous board, the current board needed the inflow of money without jeopardising its viability. And to do so, it has closed this loan by putting up the television rights as a guarantee to repay the money. The operation includes 455 million euros in new financing and 140 million euros in a renegotiation of part of the club's debt. Goldman Sachs has acted as financial advisor in the operation.

This operation, which was approved at the last assembly of trustees, will mean a relief for the short-term obligations of the club after on Monday president Joan Laporta announced a 1,350 million euros debt, a 451 million negative net worth, and a 551 million negative working capital. The agreement also provides for the issuance of a new debt of 70 million euros in the event that the club would require it later.

This announcement, although it still means adding new debts for the future, allows the board to set up part of its projects aimed precisely at generating profits that will allow it to pay back money and shore up the future of the entity. The agreement comes as the end of the transfer market approaches, in which the club's sports management fails to sell players like Miralem Pjanic, Collado or Samuel Umtiti. In addition, they are still renegotiating a reduction of the captains' salaries - Jordi Alba, Sergio Busquets and Sergi Roberto -, while waiting to negotiate similar gestures with other players.