Potential bankruptcy threat to Barcelona again as club asks banks to delay calling in their debts

Things are going from bad to worse again for FC Barcelona.

The delay to their presidential elections because of the coronavirus pandemic is unfortunate but clearly can’t be helped.

A perceived threat of bankruptcy has also reared its ugly head again, with Football Espana citing an a El Confidencial report that the club have asked their banks to delay any debt payments that are falling due.

It’s not clear at this stage whether the likes of Goldman Sachs, Allianz, Barings, Amundi and Prudential will accede to the request, but if not, it would appear that the club will be pushed towards the brink of insolvency.

El Confidencial cited by Football Espana note that the club want a dispensation for failing to comply financially.

In so doing, that would mean there has been an admittance of a non-payment of €200m.

With a reported negative working capital of €601.8m and imminent debts of €300m, it’s abundantly clear why Barcelona have requested the delay.