This lender is financing soccer clubs' big-money transfers:
According to the report, Spanish banks refused to loan Barcelona the funds for the Griezmann deal, having already lent €600 million for a refurbishment of Camp Nou.
The problem, Traub says, is that clubs have revenue streams that are essentially fixed at the start of the season while the “real value” lies in the club’s players, which many banks consider intangible. “But ultimately that means they don't have great liquidity at their current behest either to manage roadblocks along the way or to deliver into a growing strategic plan. At the heart of it, it is the inability of financial institutions to make sense of why clubs have that liquidity challenge.”
“It enabled them to look to repay a number of their banking lines. It was clearly done to improve their balance sheet,” Traub said.
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