Is Barcelona nearing bankruptcy? Club fails to pay half-yearly wages of Lionel Messi & co.

The coronavirus pandemic has had a lasting impact on the finances of several football clubs across Europe. Spanish giants Barcelona, already reeling under financial distress, saw their balance sheet worsen with the coronavirus outbreak. The club have a financial debt estimated at €1.2 billion and now head towards bankruptcy as they struggle to pay the first-team player's previous year's salaries. 

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Barcelona yet to pay Lionel Messi's salary

According to a sensational report by Spanish media outlet El Mundo, Barcelona are on the verge of going bankrupt. The report attempts to highlight the financial mismanagement at Camp Nou with 74% of the club's expenditure coming under the ambit of first-team player's wages. 

This figure breaches LaLiga's 70% limit, further casting doubts on the Barcelona wage bill mismanagement. Another report by Cadena COPE suggests that Barcelona haven't paid the salary of first-team players, including legend Lionel Messi last month. The payment covered the second half of the previous year. 

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Barcelona bankruptcy: Barcelona wage bill among highest in the world 

According to the regulations at the club, players receive their annual remuneration in two cycles every year, with Barcelona boasting among the highest wage bills in the world. The salary for the first half is paid in June, while the payment for the period from July until the end of the year is paid in December. The amount, per reports, will now be paid to the players latest by February. 

Meanwhile, the club owe €1.2 billion in debt. €730 million can be categorised as a short term loan. Moreover, the Camp Nou outfit have to pay €266 million to the banks latest by June 30 this year. Any delay in the repayment might suggest doomsday for the club, which are already without a full-time president.  

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Depleting Barcelona finances spells trouble with transfer amount yet to be paid 

Besides, the depleting Barcelona finances could be comprehended from the fact that the club are yet to pay off the transfer amounts of several signings, some of whom are not even plying their trade at Camp Nou anymore. The club owe Liverpool €29 million for signing Philippe Coutinho in 2018. 

Ajax are yet to be paid €16 million for the transfer of midfielder Frenkie de Jong in 2019, while Bordeaux will pay €10 million for signing Brazilian footballer Malcom. Interestingly, he is no more with the Blaugrana and is plying his trade with Russian outfit Zenit Saint Petersburg. A similar situation entails with Arthur and Arturo Vidal, both of whom left Barcelona last summer. 

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Image courtesy: Barcelona website