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Barcelona are on the verge of bankruptcy after racking up debts close to £1billion, according to reports.

Their financial crisis has been laid bare which has taken a massive dent following the impact of the coronavirus.

At the end of last season, accounts showed the club had lost a whopping £88m with Barca forced to play in an empty Nou Camp.

Despite players being forced to slash their wages by 70 per cent during the pandemic, the club also disclosed debts of £443m.

And a report in La Vanguardia added that figure doesn’t include a ‘runaway’ deficit that totals around £360m taking the total to just over £800m (€900m).

The report adds that Barcelona will need to pay back around £375m this year or risk going into insolvency.

Barca also owe a staggering £173m to clubs over player transfers in the long-term – taking the total just shy of an eye-watering £1bn.

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