US behemoth could answer Barcelona prayers but deal some way off

Date published: Monday 7th December 2020 11:52

Reports claim Barcelona’s financial struggles might soon be aided by investment from giant US technology company Amazon.

The Catalans’ financial worries have filled up many column inches in recent times. Estimates about the club’s level of debt vary. However, a report by Marca suggests debts have risen from €217m in June 2019 to €488m in June 2020.

Back in November, interim president Carles Tusquets painted a bleak picture about the Nou Camp situation. Asked about the possibility of the club going into administration, he replied: “Right now, no.”

That sent shockwaves through the supporters, with the mere possibility that the Spanish giants could be in serious trouble.

El Mundo Deportivo say Barca are now searching for new ways of raising money. That is through the club’s Barca Corporate programme – launched by former vice president Oriol Tomas.

Amazon are one of the companies thought to be keen to invest and ease the Blaugrana’s financial strife. It is said the American giant would invest funds in return for priority over advertising and selling the club’s merchandise.

The deal will depend on a number of issues, not least the election of a new president in January. The Assembly of Committees would also have to green light the deal.

Wages a huge issue

Barca’s debts more than doubled during the 2019-20 campaign, with the pandemic playing its part. La Liga restarted to provide TV money but revenue streams such as the lucrative club shop dried up.

Add to that the fact that players’ wages swallowed up 61 per cent of income and problems are obvious. There has been a reported €80m trimmed off the wage bill but it is still an issue.

A number of creditors have also started pushing for money they are owed. Muro Cortina Modular Renting has filed a claim to the Commercial Court in Barcelona for an outstanding bill of €3.5m.

That was for work carried out on the front of the new Masia building at the club’s training ground.

The Amazon deal may be some way from being signed but it could be a lifeline. The company is one of the biggest in the world and has flourished during the pandemic.

Should it go through it would provide some much-needed welcome news as on-pitch matters have not helped. Ronald Koeman’s side lost their fourth league game of the campaign on Saturday, with a 2-1 defeat to Cadiz.

Pressure is mounting on the Dutchman, with many feeling a new president could herald a change of coach.

READ MORE: Barcelona keen to sign Arsenal misfit

 

Related Articles

HAVE YOUR SAY IN OUR FORUM