September 09, (THEWILL) – Following a significant asset sale during the summer, La Liga has revealed that Barcelona’s expenditure limit has climbed to €656.5 million.
Previous poor financial choices saw Barca’s spending limit at -€144m in January. These choices ultimately caused Lionel Messi to leave the club for Paris Saint-Germain, last summer.
Barca has now found itself in a better financial position, thanks to the club selling off 49% of Barca Studios and 25% of its television rights for the next 25 years.
Barcelona’s cap is [up to] €656m, and they needed this money, which is why they were signing players at the last minute, according to La Liga president, Javier Tebas, who verified the news on Friday.
Even though he ruled out fears of bankruptcy, Tebas noted that the club’s efforts were still insufficient when he said: “To register Kounde, the president of Barcelona had to put up a personal guarantee. Is there a risk of bankruptcy? In my opinion, I don’t think so, not at all, they have a high wage bill, but a lot of equity, although as Romeu said, they have had and [will] have to reduce the wage bill.”