Barcelona president Joan Laporta has secured a €500 million credit line with an American investment bank and will use €100 million to pay off outsanding wages to the first team squad, according to a report from ESPN.
Barça owe a massive bulk of player salaries since January and Laporta will prioritize those debts first, with a source mentioned in the report saying Laporta has used the loan to “buy some time” as he looks for other avenues to solve the club’s massive €1.2 billion debt.
The European Super League was supposed to be a salvation with an immediate €350 million cash injection promised for the club as they agreed to join the breakaway league, but we all know how that went.