FC Barcelona Finances

M

Morten

Senior Member
Luftstalag14 said:
That figure sounds legit as it probably includes the 500m they borrowed to finance the new Bernabeu.

Ours doesn't even include the 815m we might borrow from Goldman Sachs for the Espai project.
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Goldman Sachs, they basically run the US government, don't they?
 
behindbrowneyes

behindbrowneyes

Well-known member
Luftstalag14 said:
That figure sounds legit as it probably includes the 500m they borrowed to finance the new Bernabeu.

Ours doesn't even include the 815m we might borrow from Goldman Sachs for the Espai project.
Click to expand...

No, it doesn't include the 500M. Only a part (100M). 270M will follow in July 2021 (next financial year) and another 200M in July 2022.

With Barcelona, they have debt of 109M due to Espai Bar?a.
 
Luftstalag14

Luftstalag14

Culé de Celestial Empire
behindbrowneyes said:
No, it doesn't include the 500M. Only a part (100M). 270M will follow in July 2021 (next financial year) and another 200M in July 2022.

With Barcelona, they have debt of 109M due to Espai Bar?a.
Click to expand...

What do you mean? Real Madrid didn't get all 500m in one lump sum and is getting the loan in installments so accounting wise they are reflecting that?

Our debt from Espai Barca doesn't include the 815 we might potentially get from Goldman Sachs for sure. It is probably incurred from building the Estadi Johan Cruyff and other development work.
 
behindbrowneyes

behindbrowneyes

Well-known member
Luftstalag14 said:
What do you mean? Real Madrid didn't get all 500m in one lump sum and is getting the loan in installments so accounting wise they are reflecting that?

Our debt from Espai Barca doesn't include the 815 we might potentially get from Goldman Sachs for sure. It is probably incurred from building the Estadi Johan Cruyff and other development work.
Click to expand...

Real Madrid is taking out the loan at pace with the building progress. Therefore, out of that reported 901M debt, only 100M of it is due to the new stadium.

What I was trying to say was that Barca and Real have about the same debt due to the stadium as of now, other than the narrative that Madrid's 901M isn't that bad because they are renovating their stadium, which is true, but not when it comes to the numbers in their balance sheet compared to Barca's.

Costs for Espai Barca in last annual report were 109M. It is not only Estadi Johan Cruyff, but also lots of construction work around Camp Nou (knocking down Mini Estadi, Palau Blaugrana, urban zoning works, new electric network ...). Just because we don't see it in Camp Nou, there are many works going on that have to do with Nou Camp Nou.

This doesn't change the fact that Madrid's gross debt is still ~270M less than that of Barca and their new stadium will refinance that loan itself (like it is planned with Barca), but their debt is still very high if you consider what I said above (although their debt is not short-term like in the case of Barca, which is another positive for Madrid)
 
Luftstalag14

Luftstalag14

Culé de Celestial Empire
behindbrowneyes said:
Real Madrid is taking out the loan at pace with the building progress. Therefore, out of that reported 901M debt, only 100M of it is due to the new stadium.

What I was trying to say was that Barca and Real have about the same debt due to the stadium as of now, other than the narrative that Madrid's 901M isn't that bad because they are renovating their stadium, which is true, but not when it comes to the numbers in their balance sheet compared to Barca's.

Costs for Espai Barca in last annual report were 109M. It is not only Estadi Johan Cruyff, but also lots of construction work around Camp Nou (knocking down Mini Estadi, Palau Blaugrana, urban zoning works, new electric network ...). Just because we don't see it in Camp Nou, there are many works going on that have to do with Nou Camp Nou.

This doesn't change the fact that Madrid's gross debt is still ~270M less than that of Barca and their new stadium will refinance that loan itself (like it is planned with Barca), but their debt is still very high if you consider what I said above (although their debt is not short-term like in the case of Barca, which is another positive for Madrid)
Click to expand...

Ours and Real Madrid's debt with regard to the stadium are not on the same level. They borrowed 500m already and I believe Real Madrid threw in some of their own money but the total cost for renovating their stadium probably would not exceed 600m. For us, you are correct that it was not just building Estadi Johan Cruyff, the other work you mentioned too have been going on for some time, however we have not touched Camp Nou and Palau Balaugrana so far (as far as I know) which make up the bulk of the Espai Barca project. We haven't secured all the permits from the city and more importantly, we don't have the money to move forward, which was estimated at 815m euros last time I checked. So 109m we already spent (which you mentioned, but I am not sure if 100% of the 109m was financed, some probably came out of our own coffers) on Espai Barca + potentially 815m (might even be higher next time we hear about it) will bring the total cost of Espai Barca to almost 1 billion, that is almost twice as much as the debt of Real Madrid allocated to their stadium project. Debt-wise, at the very least it is 815m vs. 500m.

Also, keep in mind that our total liabilities of 1.1b number that has been floating around this week doesn't include the 815m which we have not borrowed yet. If we add that to our debt, by the broadest definition of liabilities it will be around 2 billion. For Real Madrid, if you are correct that their gross liabilities are at 900m and they still have to add 400m out of the 500m they borrowed to their list, it is going to be around 1.3 billion. We are still in a much worse shape financially than them.
 
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