Barcelona president reveals debts of €1.35bn
August 17, 2021 - Barcelona president Joan Laporta has exposed the extent of the club’s financial crisis, revealing the La Liga giants are €1.35bn in debt -- an increase of €200m from figures reported in January.
Just days after offloading prized asset Lionel Messi to Paris St-Germain, Joan Laporta has revealed the spiralling economic crisis engulfing Barcelona. With a staggering €1.35bn debt -- mainly consisting of existing bank loans and player wages -- the Spanish giants face a fight to charter a way back to financial health.
Laporta says predecessor Josep Maria Bartomeu left a “terrible inheritance” that “evaded all internal checks”, with many of the club’s senior players now having to accept salary cuts to aid recovery.
The sale of Neymar for €222m, in 2017, has been seen as a catalyst for Barcelona’s misfortunes, with inflated wages and a poor transfer policy, coupled with lack of European success on the pitch, responsible for the club’s failure to maintain its status as a heavyweight of world football.