Barcelona have released information about their latest credit check with the club which receives a “BBB stable negative rating”.
Barça’s financial woes have been well documented in recent years, with the La Liga giants forced to work on a gentle budget when they want to navigate safely out of the mess they are in.
[PRESS RELEASE]
Barcelona FC Barcelona has the confidence of credit rating agencies
? MORE INFORMATION: https://t.co/nCdvIeoiUU pic.twitter.com/Sea4cDVbuX
– FC Barcelona (@FCBarcelona) 28 July 2021
The club has now taken to their official website to communicate the results of their latest credit check, and while they were quick to suggest that the investigation had resulted in a “vote of confidence”, the truth is that their rating is much lower than would be expected from such a huge organisation.
“The sporting and financial project of the new board of FC Barcelona has been entrusted to receive a stable triple B-negative credit rating from the credit rating agency Fitch,” the statement said.
“The credit rating agency gives a triple B rating to companies that are satisfactory at the time of rating, just as has happened with FC Barcelona after their assessment.
“With this stable BBB negative rating, the Fitch agency positively values the club’s financial projects, which will need to undergo major adjustments to balance books.
“The confidence that Fitch has shown allows the club to see the future with optimism and at a moment when the organization is adapting is the financial profitability plan as well as its strategic plan.”
News of Barça’s financial situation will not surprise anyone who has followed the club’s progress in recent seasons.
Joan Laporta has a big job in the hands of Barcelona / Eric Alonso / Getty Images
The Spanish crowns are still desperately clinging to the premise of a lucrative Super League, while they are also currently facing the very real prospect of not being able to register any of their summer signings as they have already exceeded La Liga’s salary cap.
Years of financial mismanagement and bad decisions have ultimately led to Barcelona being in the state they are in, and club president Joan Laporta has a big job on his hands if he is to balance the books at Camp Nou.
