Barcelona’s president says membership’s debt now at $1.6 billion

Barcelona’s president offered a grim image of the membership’s monetary scenario on Monday, saying its debt had risen to 1.35 billion euros ($1.6 billion).
Joan Laporta blamed the earlier administration of Josep Bartomeu for the membership’s “dramatic” scenario that finally led to Lionel Messi’s departure. Laporta accused Bartomeu of numerous “lies” and mentioned he and his board of administrators have to be held accountable.
Laporta mentioned the membership had losses of 481 million euros ($567 million) and was left with a destructive web value of 451 million euros ($532 million), making it troublesome to barter with gamers.
“Our salaries represent 103% of the club’s total income. That’s 20% to 25% more than our competitors,” Laporta mentioned in a information convention. “We have found ourselves in a difficult situation to renegotiate the players’ contracts.”
The membership misplaced star participant Messi to Paris Saint-Germain this month as a result of it couldn’t give him a brand new contract that will match throughout the Spanish league’s strict monetary fair-play laws.
The membership’s debt included virtually 390 million euros ($460 million) associated to participant salaries, Laporta mentioned. More than 670 million euros ($790 million) was money owed with banks, whereas some 40 million euros ($47 million) was linked to membership losses. The impression of the coronavirus pandemic was 91 million euros ($107 million), he mentioned.

Laporta was amongst these focused by some followers within the group’s Spanish league opener on Sunday, when it defeated Real Sociedad 4-2. There had been banners exterior the Camp Nou criticizing Laporta and accusing him of not doing sufficient to maintain Messi.
A couple of additionally criticized Bartomeu, who lately printed a letter by which he denied any wrongdoing throughout his administration. Bartomeu resigned final yr amid the monetary struggles and his fallout with Messi.
Gerard Piqué mentioned Sunday he needed to take a wage discount so the membership might register a few of its new gamers forward of the opener in opposition to Sociedad, and that different veteran gamers reminiscent of Sergio Busquets, Jordi Alba and Sergi Roberto had been anticipated to do the identical.
Laporta mentioned the membership intends to scale back salaries by about 200 million euros ($235 million), and the main focus for now shall be on selling youth gamers. Some of the gamers signed within the offseason got here as free brokers, together with Memphis Depay, Eric Garcia and Sergio Aguero.
Laporta mentioned that regardless of the “complicated” scenario that the membership is in, he thinks that in a few years it can all be resolved.
“We are not scared at all. We are highly motivated,” he mentioned. “It’s a big challenge but we are capable of overcoming it.”