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A loan contracted by Barcelona to Goldman Sachs to pay the salaries of the players and is not related to the improvement of the club’s facilities, a leading economist in the city has warned.
Marc Ciria was the economist behind Joan Laporta’s candidacy for the club’s presidency in 2015 and has now granted an interview to the EFE press agency, according to Marca, warning about what this transfer means for the club.
He has stated that it is not to pay for Espai Barça, the club’s sports city project to improve its facilities, but to cover the salaries of the players.
“Goldman Sachs is an investment bank, not a money loan bank. The appearance of Goldman Sachs means that Barcelona has not been able to go to national entities to increase its debt. The reason is obvious: the club owes them almost 500 million euros in debt, ”explained Ciria.
“The club is using Espai Barça’s 30-year debt, of which it is clearly inflating the final cost result, to pay the salaries of the players this year. And Goldman Sachs already thinks that it is good because it is charging interest between 3 and 4 percent and if Barcelona does not pay then there will be consequences.
“The debt to be paid in the short term is 77 percent. That means there is no money to pay the payroll or some providers. So, the increase in debt has been to pay the day to day of the club, not Espai Barça ”.
Luis Suárez, Arturo Vidal, Arthur Melo, Rafinha Alcántara and Nelson Semedo are among the players who have left the club this summer, with a record of alarming financial results during the last year with the doubling of debt and President Josep Maria Bartomeu facing a vote of no confidence.
That large number of player departures significantly reduced the club’s salary bill for this season, and Diario Sport said the gross reduction is a total of 80 million euros.
