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Barcelona 'take out €500m loan for summer signings'

Barcelona 'take out €500m loan for summer signings'
© Reuters
Barcelona president Joan Laporta reportedly plans to help ease the club's €1bn debt by agreeing a €500m loan with an American investment bank.

Barcelona president Joan Laporta has reportedly struck a deal with an investment bank for a €500m (£430.4m) loan for the cash-strapped Catalans.

With Barca still reeling from the financial impact of the coronavirus pandemic - facing debts of up to €1bn (£860.9m) - big-money summer signings were previously thought to be off the table.

The Blaugrana are instead expected to focus on signing free agents such as Eric Garcia, Memphis Depay and Sergio Aguero, while as many as 14 players at Camp Nou could supposedly be up for sale this summer.

However, ESPN now reports that Laporta has agreed a €500m loan with an American firm, although the first €100m (£86m) will go towards repaying the players' wages and another €265m (£228.1m) will be repaid to the banks.

Despite their ever-growing debt, the report claims that Laporta is still keen to land a "marquee" signing this summer, and a recent report claimed that Barca have made contact with Harry Kane amid rumours that he has handed in a transfer request at Tottenham Hotspur.

The Barcelona president is also thought to be considering sacking manager Ronald Koeman, but the club's finances would take another hit if they were to relieve the Dutchman of his duties.

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