Joan Laporta, Barcelona president has opened up on the Catalan club’s “disturbing” financial situation, disclosing the La Liga side are £1.15bn in debt.
The current Barcelona President blamed his predecessor Josep Mario Bartomeu for a “terrible inheritance” which he confirms sees club salaries up to 103% of income at the club.
Laporta blamed Barcelona’s “dramatic” situation on the departure of Lionel Messi and insisted Mario Bartomeu and his board of directors must be held accountable for the situation.
The Barcelona President, in his second spell as president at Camp Nou after winning the 2021 elections, said at a live press conference this week: “Our salaries represent 103 percent of the club’s total income. That’s 20-25 percent more than our competitors.
“The first thing we had to do when we arrived was to ask for a loan of €80m because otherwise, we could not pay the salaries. The previous regime was full of lies.”
Laporta further stated via online trading sa: “We also found that we had to do some urgent repairs to the Camp Nou because otherwise, it posed a risk to the attending fans. We also found out that the club had already received 50 percent of the TV rights fees in advance.
“We found the wage policy in the form of an inverted pyramid – veterans on long contracts and youngsters on a short deal. There were no wages cuts – lies.
“We have found that disproportionate payments have been made to intermediaries, not even agents.
“Barcelona has a negative net worth of €451m – it is a terrible inheritance. What has been happening is very worrying.
“Bartomeu’s (open) letter is an effort to justify management that is unjustifiable. It is an exercise in desperation. They are responsible for everything until March 7. They will not escape their doing.”
The club brought in Memphis Depay as well as Eric Garcia on free transfers this summer window.
However, despite the exit of Argentine forward Messi, the side was only able to register the duo at late notice ahead of their first game of the season against Real Sociedad on Sunday after skipper Gerard Pique agreed to take a pay cut.
The club President hopes other senior players in the team like Jordi Alba will follow suit.
Laporta said, “I thank Pique for his willingness to help the club. His reduction has helped us to register players. We can register Kun (Sergio Aguero) with the agreement we plan to have with the other players. I hope the other captains act like Pique,”
Despite such a wealth of financial issues, Laporta believes the club can fix its situation and has disclosed that it has taken out a loan of about “€550m with an interest rate of 1.1% to restructure the club”.
He feels it will take a few years for the side to be back on a stable financial footing.
“The situation is dramatic, but we have good news,” said Laporta. “The strategic plan based on our credibility and experience, on the assets that Barca have, makes this situation temporary. I think that in a couple of years, the club’s economy will be healthy.
“We are not scared at all. We are highly motivated and positive and morale is high. It’s a big challenge but we are capable of overcoming it.
“I’d like to call on all Barca fans and the entire club to be united. With football and unity, I’m convinced this era will be full of success.”