Barcelona Have Taken Out A Major Bank Loan Ahead Of The Summer Transfer Window
Barcelona could be ready to make some major summer signings after taking out a substantial bank loan.
El País (via Marca) reports that the Spanish club have secured a £122m loan with two American companies.
Pricoa Capital Group has reportedly agreed to lend Barça £78.9m, while Barings will be giving the club £43.8m.
However, the reigning La Liga champions would have to repay the loan back in five years, which carries with it a 1.8 per cent interest rate.
The Spanish newspaper adds that the money could be used on transfers when required, which could be part of a long building process when it comes to overhauling the current squad.
Víctor Font, the CEO of Delta Partners, has said that the club "do[es] not generate sufficient resources" to accommodate the expenditure in different parts of the Spanish side.
"The ordinary costs are higher than income, which is why there is a need to sell players to prevent losses and that is a ticking time bomb," he added.
With Barcelona president Josep Maria Bartomeu stepping down in 2021, Font has previously expressed his ambitions of taking on the presidential role and will apparently stand in the club's next round of elections.
Speaking of Bartomeu, the 56-year-old Spaniard revealed that Barcelona have already put plans into motion as they prepare for life without Lionel Messi.
The club completed the acquisition of Frenkie de Jong from Ajax last month for a reported fee of £65m, while recent reports have suggested that Barça have beaten Real Madrid to the signing of a highly rated European striker.
"We have to prepare the club for the future," Bartomeu said.
"We are bringing great young players to the team because we need to continue this era of success. That's our responsibility.
"My mandate will be finished in two seasons. So I need to leave the club in a great position and tell the new president 'that's our legacy.'"
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Featured Image Credit: PA