After news broke of Ilkay Gündogan being asked to leave Barcelona, British media revealed the club’s current predicament. Chaotic financial management, €3 billion in debt, and even the club’s future revenue has been mortgaged, which are the reasons behind Barcelona’s dire situation.
Barcelona’s unstable financial situation is one of the reasons the club was forced to give up on high-earning players. Gündogan was an important part of the team last season, however, Gündogan chose to “retire” at Barcelona, only to find out after just one year that Barcelona is no longer the same Barcelona.
Gündogan’s annual salary is as high as £16 million, but his exorbitant salary has pushed Barcelona’s wage bill close to exhaustion. The club would rather give him away for free than keep his salary on the books.
Barcelona is currently facing a huge debt crisis, reaching a staggering €3 billion. Although this includes the renovation costs of Camp Nou, Barcelona has many ways to get sponsorships. The harsh reality is that Barcelona, under the authorization of the La Liga, has already sold its assets.
Two years ago, Barcelona sold 25% of its future 25-year broadcasting revenue to an American company, and that money has long been “squandered” by the club. In addition, Barcelona had tried to sell two of its subsidiaries, but the estimated €400 million valuation has deterred potential buyers.
In recent years, Barcelona has been frantically mortgaging the future in pursuit of championships, which has led to the current predicament. In the transfer market, Barcelona has basically been giving away players for free and hasn’t had any transfer income in a long time. Aside from Gündogan, Barcelona also failed to sign Nico Williams due to “lack of funds.”
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