Presidential hopeful Font’s solution for the economic crisis at Barcelona
Barcelona are in a deep financial crisis. They are 1.2 billion euros in debt and could go bankrupt if they do not repay them. The club is also currently without a president, which means that they lack leadership and management. They do have an interim board being headed by Carles Tusquets but the temporary management team does not have a lot of power and their only job is to see that the club is running smoothly.
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One of the presidential candidates, Victor Font, was recently in an interview with Sport, and he said that his team has a proper plan to bring Barcelona out of this financial turmoil. Firstly he said that the news of such a big debt is not new to him as he was already expecting such a figure after looking at the way money had been handled by the previous president.
He feels as if the club’s mess is due to the incredible mismanagement by Josep Maria Bartomeu, their previous chief. The club owes money to several clubs for their numerous transfers that they made over the years. Plus the previous board failed to realize the impact COVID-19 could have on the club and did not take effective measures to protect their budget.
Font realizes that the club immediately needs some sort of business management to maneuver around this tricky situation. The situation is really bad for the club but coming out of it is not impossible and with his plan Font is sure they can get back on their feet. He went on to explain his two-part plan,
"“We have to implement urgently the plan we have defined, which has two parts. Restructuring the costs, ensuring the bottom line, for the level of income we currently have, and refinancing all the short-term debt to make sure we avoid bankruptcy.”Source Sport"
With the elections being delayed further due to the coronavirus, things are looking quite bleak for the club, However, Koeman has finally picked up the club’s form and they are on an eight match unbeaten run in the league.
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