FC BARCELONA have rubbished rumours of a Saudi Arabian takeover of the La Liga club.
There had been Spanish media reports that Saudi Crown Prince Mohammed bin Salman was reportedly preparing a €10 billion bid.
The story gained traction when Spanish commentator Francois Gallardo was quoted as saying the crown prince was preparing a bid to acquire Barcelona outright.
READ MORE:
The club currently has debts estimated to be around €2.5 billion.
That burden is the legacy of years of heavy spending, long-term wage commitments and the costly stadium redevelopment, compounded by the sharp drop in revenue during the pandemic.
Joan Gaspart, the former president Barcelona president confirmed that the current board of directors, chaired by Joan Laporta, does not have the right to dispose of the club’s ownership.
He added: “FC Barcelona is owned by about 150,000 members, and selling the club is something the owners will not accept.”
“FC Barcelona possesses something no other club in the world has; money is very important, and so is passion, but the sentiment of the members today is to continue what the club has been for 125 years.”
Despite the financial crisis the club has been going through in recent years, FC Barcelona ranks sixth on the list of the world’s highest market value clubs, with an estimated value of €1.12 billion, according to Transfermarkt.
Meanwhile, its La Liga rival Real Madrid tops the list with a market value of €1.38 billion.
Click here to read more Sport News from The Olive Press.
