Barcelona in ‘very worrying’ financial situation, admits club president Joan Laporta
The IndependentSign up to Miguel Delaney’s Reading the Game newsletter sent straight to your inbox for free Sign up to Miguel’s Delaney’s free weekly newsletter Sign up to Miguel’s Delaney’s free weekly newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Laporta blamed the “lies” of his predecessor, Josep Maria Bartomeu, for the club’s “very worrying” and “dramatic” situation and claimed Barcelona currently has a “negative net worth of €451m” and a debt that stands at £1.15bn. Even after Barcelona resigned itself to Lionel Messi’s departure, its current expense on players’ salaries still exceeds its entire income and the club was only able to register new signings Memphis Depay and Eric Garcia for its opening victory against Real Sociedad after Gerard Pique agreed to a significant reduction last week. “The salary policy that we stumbled upon from the previous board is wrong, it’s what the experts call the inverted pyramid, where veterans have long contracts and young players have short ones, and that makes it very difficult to renegotiate contracts,” Laporta said. And they knew it.” Despite the club’s wealth of problems, Laporta insisted he was braced for such a situation and believes that “in a couple of years, the club’s economy will be healthy”.