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President of FC Barcelona Joan Laporta gestures during a press conference at the Camp Nou stadium in Barcelona on August 16, 2021. Laporta explains the economic results of Due Diligence. (Photo : LLUIS GENE/AFP via Getty Images)
Barcelona’s problems off the pitch show no sign of abating, with president Joan Laporta making a stunning revelation on Monday that the club’s debts have now soared to $1.6 billion. The grim statement comes a day after Barcelona’s 4-2 victory over Real Sociedad, casting yet another dark cloud over a club that is still reeling from the sudden departure of soccer icon Lionel Messi.
Laporta once again pinned all the blame on his predecessor Josep Bartomeu for putting the club in dire financial straits. Laporta said that Bartomeu and his board of directors must be held accountable for the damage they have done to the club.
Laporta reveals Barca’s mounting debt
According to Laporta, he was forced to release the club’s actual debt figures to counter the lies published by Bartomeu in his open letter last week that criticized the former’s management of the financial crisis.
Laporta said, “They say they are not responsible for the 2019-20 accounts, but they are responsible until March 17, 2021. The numbers are their responsibility. Nobody will escape from that.” Laporta added that Barcelona had losses amounting to $567 million, leaving the Catalan giants with a negative net worth of $532 million.
Laporta added in the news conference that salaries in Barcelona represent “103% of the club’s total income,” making it difficult for them to negotiate players’ contracts. With Barca’s finances spiraling out of control, Laporta had to make the tough decision to let Messi go as they could not give the Argentina captain a new contract that would be allowed under La Liga’s strict financial fair play rules.
Laporta broke down the club’s debts, with player salaries accounting for $460 million. Barcelona also had $790 million worth of debts with banks, while $47 million was attributed to a loss in membership. The COVID-19 pandemic also wreaked havoc on Barca’s finances, costing the club $107 million.
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Laporta praises Pique for taking pay cut before league opener
Some Barcelona supporters targeted Laporta for the role he played in Messi’s move to Paris Saint-Germain. Banners were displayed outside the Camp Nou criticizing Laporta for not trying his hardest to keep Messi with the team. Some fans also criticized the controversial Bartomeu, who resigned as president last year after a rift with Messi and plunging the club into debt.
Laporta paid tribute to club captain Gerard Pique, who accepted a last-minute pay cut to allow Barcelona to field new signings Eric Garcia and Memphis Depay in their league opener against Real Sociedad this previous weekend. According to Pique, fellow captains Jordi Alba, Sergio Busquets, and Sergi Roberto were also willing to accept salary reductions to help the club with its predicament.
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