Barcelona is once again in financial turmoil, according to a report from the Telegraph, a financial investor failed to provide the funds the club needs to get its license to complete in LaLiga this season, strange considering the season has already begun, leaving president Joan Laporta liable for €20 million that was not provided.
The finance company known as Libero has seen its share price plummet on the Frankfurt stock exchange by 25% and its deal to buy a percentage of Barca Vision, a subsidiary of Barcelona, looks to be falling through.
The recent events leave Barcelona in a huge financial crisis as the club has a lot of resources invested in the renovation of their stadium the Camp Nou.
Barcelona’s financial situation
Barcelona has been in rush economics for some time now, selling players, packaging players, and signing sponsorship deals to gain revenue. Now with Libero failing to provide the funds the club needed the directors of Barcelona are now liable for the money they stated the financial investors would put up.
The total debt of the club is now at €2 billion, that situation to go along with the Negreira scandal could see Barcelona banned from UEFA competitions leaves the club scrambling to readjust their financial situation which was complex to being with.
For Barcelona the deal with Libero was critical for its immediate future as many of Barca Vision’s assets, such as media and digital rights were sold to two other investors, socios.com and Orpheus Media.
Barcelona has yet to receive the full payments that were agreed upon by the two companies.