Dubai firm offers to write off Barcelona’s $ 1.6 billion debt – Middle East Monitor
A Dubai company would have come to the aid of FC Barcelona with a package of 1.6 billion dollars that could cancel the debts of the Catalan giant.
A combination of lost income from the COVID-19 pandemic and years of financial mismanagement has brought the Spanish club to its knees. In the summer, he was forced to sell club talisman Lionel Messi to rival PSG in a deal that would have been unthinkable a few months ago.
The club’s debt is around the amount proposed by the Dubai firm. Barcelona have also cut player salaries to get through this period. He used to spend 102 percent of his income on wages.
The report claims that the terms of the Dubai offer would be very positive. If Barcelona accepted the offer, they would immediately receive the huge cash injection, which would mean the club would be stabilized.
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The question is whether the European giant will accept the offer. Barcelona recently rejected a multibillion-euro investment plan and revenue-sharing deal between La Liga and a private equity firm. The deal would have required the club to give up ten percent of its revenue and ten percent of the capital of most of its activities.
The details of the offer on the Dubai table are unclear, however, but it has been reported that the company will charge very low interest, making the approach more attractive.
Although it is too early to say whether Barcelona will accept the deal, the offer highlights the Gulf country’s aggressive pursuit of European icons in the sports world. Abu Dhabi already owns Manchester City, adding Barcelona to the UAE’s portfolio would be a major blow.
Saudi Arabia reportedly target Italian club Inter Milan, while offer to buy Newcastle Football Club is not completely ruled out