Barca facing financial crisis

Barcelona were running a deficit of €36 million as of April 30th, with the figure likely to rise as high as €55 million by the…

Barcelona were running a deficit of €36 million as of April 30th, with the figure likely to rise as high as €55 million by the end of the season, outgoing club president Enric Reyna confirmed today.

Reyna, speaking at an extraordinary meeting of club members prior to his scheduled departure on Tuesday, said Barcelona's total debt was €98 million but added that the figure would be reduced to €47 million by the end of June.

Barcelona, who have not won a major trophy in the past four seasons, have been hit by the financial crisis affecting football but they do have a lucrative new television deal in place.

Back in 1999, the Catalan club signed an agreement with satellite platform Via Digital for the rights to all their matches from 2003 to 2008. The deal is worth more than €60 million a season.

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Reyna added in his end-of-term report that the value of the club's real estate was put at €620 million when it was assessed last year, while Spain's Football League valued the playing staff at €240 million.

Reyna took over the presidency at the Spanish club on an interim basis in February after Joan Gaspart opted to step down early. New elections at the club are expected to be called for June.