Joan Laporta has published the economic balance sheet of FC Barcelona and presented a set of figures of horror.
President Joan Laporta has presented the financial situation of FC Barcelona in shocking words and published figures of horror. “The inherited economic situation is worrying and the financial situation is dire. Barcelona has 451 million euros in net debt and 1.35 billion euros in gross debt,” Laporta said at a press conference.
When classifying the numbers, Laporta did not leave his predecessor Josep Maria Bartomeu and the former board of directors happy. “When we took over the club, we asked for a bridging loan of 80 million euros, which was granted by ‘Goldman Sachs’ because we would not have been able to pay the salaries of the players and employees,” said Laporta Situation after he took office in March 2021. The club had already received 79 million euros, “50 percent of which came from the television rights of LaLiga, and the banks charged 9 percent interest for it,” he said.
Laporta: Salary costs higher than sales
The salary costs at Barcelona are particularly overwhelming, which, according to Laporta, account for 103 percent of the club’s total turnover, so in fact alone cause losses. “That is 20-25 percent more than our competitors,” said the 59-year-old. Even the wage cuts that appear to have been made under Bartomeu are “not real. We found those millions in various types of bonuses and variables included in the new contracts,” Laporta said.
The club’s horrific salary costs were ultimately the main reason why superstar Lionel Messi was unable to renew his contract with the Catalans. Most recently, Gerard Pique agreed to a salary waiver in order to be able to register the newcomers Memphis Depay and Eric Garcia at all with the league. Sergi Roberto, Jordi Alba and Sergio Busquets are also expected to agree to a salary waiver soon.
But not only the salaries got completely out of hand under Bartomeu’s aegis. The club threw some of the money out of the window for questionable services. “We found disproportionate payments to intermediaries, not agents. A transfer that cost 40 million euros and we paid eight million euros for the purchase premium and two million euros for the sales premium. In addition, one person who paid eight million euros were paid to track down players in South America, “explained Laporta. In addition, bills were split up to avoid the club’s controls.
Laporta warns Bartomeu: Will not be able to evade responsibility
He accused Bartomeu of “lying” that he tried to “justify a management that cannot be justified. It is an exercise in desperation,” said Laporta, referring to a letter from the ex-president. Laporta announced: “Nobody will be able to evade this responsibility.”
One way to get some money would be to spin off the club to generate income by selling shares to investors. But Laporta rules out this possibility for FC Barcelona. “The situation is dire, but the good news is that it is temporary. We have a plan and the morale to overcome it. There is no risk of a spin-off into a public company. As long as this board is in office, it will be Club always belong to the fans, “he said.
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