Cash-strapped Barcelona 'on verge of bankruptcy' after racking up £1BILLION debt… and still owe £173m in transfers

BARCELONA are on the verge of bankruptcy after racking up debts close to £1billion, according to reports.

Their financial crisis has been laid bare which has taken a massive dent following the impact of the coronavirus.

At the end of last season, accounts showed the club had lost a whopping £88m with Barca forced to play in an empty Nou Camp.

Despite players being forced to slash their wages by 70 per cent during the pandemic, the club also disclosed debts of £443m.

And a report in La Vanguardia added that figure doesn't include a 'runaway' deficit that totals around £360m taking the total to just over £800m (€900m).

The report adds that Barcelona will need to pay back around £375m this year or risk going into insolvency.

Barca also owe a staggering £173m to clubs over player transfers in the long-term – taking the total just shy of an eye-watering £1bn.

According to Marca, that includes two payments to Liverpool for Philippe Coutinho.

The Catalan giants signed the Brazilian playmaker for £142m in January 2018 but still owe £25.84m in the short-term and £35.4m in the long-term.

It's a similar story with Ajax and Frenkie De Jong with Barcelona still owing the Dutch side £42.47m.

What is most concerning is the club need to find £112m in the short-term to pay off their debts to other clubs.

One expenditure burning a huge financial hole in the club is the staggering wage bill.

Barcelona have the highest wage bill in world football that tops £355m.

And the club are in further turmoil after it was revealed by El Partidazo de COPE that they have been unable to afford to pay the players their December wages.

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