Barcelona may be one of the most successful clubs in the world, but the Blaugrana aren't immune to the ensuing crisis that's resulted due to COVID-19.
The unprecedented global pandemic has really done a number on many businesses and their finances, and football clubs are no exception. Teams like Manchester United, Manchester City, and Chelsea have already felt the pinch, so it's no surprise that the Spanish powerhouse have also been hit pretty hard.
How bad are things for the Blaugrana? Well, according to reports, Barcelona are currently in debt to the tune of €1.173 billion ($1.433 billion). €730 million ($892 million) of this debt has to be settled in the short-term, and hence, the club's executives needed to find funds quickly to solve this problem.
In comes Goldman Sachs. The American investment bank is no stranger to taking on high-profile clients, and in fact, already have a relationship with Barcelona. It's already been previously reported that the Spanish giants and the American conglomerate have linked up on Barcelona's stadium renovation project. That project is expected to cost €815 million ($995.4 million), and Goldman have already advanced €90 million ($109 million) towards this undertaking.
Meanwhile, to address their debt, Barcelona have turned to Goldman once again, and now have secured a €500 million ($611.7 million) loan. The Blaugrana will receive €100 million of these infusion of funds immediately so they can meet certain obligations prior to June 30th.
