Barcelona’s Bankruptcy Buys Torres for 55 Million

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It was announced last week that an agreement between Barcelona and Man City regarding the transfer of Torres and now the deal is complete, Cheraw Chronicle reported. The original will be presented at the Camp Nou. Torres broke through against Valencia and marked the summer 2020 move to City. The English superpower has noticed the Spain international 22 times, despite suffering a foot injury since October. In Manchester he was good at scoring 16 goals. Barcelona are only seventh in La Liga and have failed to survive the Champions League group stage for the first time since 2000. Torres is the first major purchase for coach Xavi, Ronald Koeman’s successor. According to English and Spanish media, Barcelona paid 55 million euros to the footballer. An additional 10 million can be added through rewards. The transfer is fantastic, given Barcelona’s precarious financial situation. However, a rescheduling of old debts and a €595 million credit line with Goldman Sachs (to be repaid within 10 years) has given the club some breathing room. Television broadcasting rights were guarantees. Selling players last summer and cutting costs did the rest. Meanwhile, Sergio Aguero ended his career due to heart problems, and saved 5 million euros. From 2021 to 2022, the club expects total wage costs to fall by another 30 percent, and because the spectators were welcome again at the Camp Nou in the first round, Barcelona are hoping to bring in an income of 765 million euros this season. Read more.