FC Barcelona has closed the season with a negative net worth of 451 million euros, which has forced the club to work “to show to our creditors that the club is viable “, recognized the president Joan Laporta.

Although now there is a temporary suspension as a result of the Covid – 19, the fact of having negative net worth would mean having to go into dissolution due to being in a situation of technical bankruptcy.

Thus The Blaugrana president explained it today in an approach to the data of the due diligence that he commissioned when he took office, which will be presented in September at the General Assembly of Compromisaries.

In addition, the leader has admitted that the losses reach 481 million euros, while ensuring that the impact of the pandemic has risen to 91 million.

The accounts, audited by EY, collect debts that reach 1. 350 million euros, of which that 673 millions correspond to bank debt; 379 millions to player commitments; 56 of Espai Barça’s commitments; 90 million for litigation; 19 millions of subscribers that we will not charge for capacity restrictions; and 79 million advance payment of 50% of LaLiga television rights. In addition, the team has a negative working capital of 553 million euros.

According to Laporta, “this is part of a ‘modus operandi’ that bypassed all the entity’s controls, such as the splitting of the ‘Barçagate’ bills, and the same thing happened at Espai Barça, with the debt incurred and in the IT and marketing departments “.

Despite everything, Laporta has been optimistic about reversing the club’s situation: “We have five proposals to be the main sponsor of the shirt, we have raised 595 million euros with Goldman Sachs with an interest of 1.9%, Barça Studios is interested, the situation will be reversed. There is no possibility of becoming a Sports Limited Company because this board does not want it. ”

In this way, with the loan from Goldman Sachs, the Blaugrana team avoids the declaration of a possible bankruptcy due to the impossibility of facing the debts.

“We are convinced that the decisions that should be taken have been made. Messi is sad, but it was necessary. Because the institution is above all. We would have put everything at risk, the economic situation is dramatic,” he insisted Laporta asked about the departure of the Argentine star.

Criticisms of the previous directive The president culer has also pointed to the previous board of directors on the current situation of the club, which was chaired by Josep María Bartomeu. Laporta has indicated that the letter is “full of lies.”

“I do not share the accounts he does. They say that they are not responsible for the exercise 2020 – 2021 and they are responsible until March of 2021. The accounts that were closed are their responsibility. I have experienced this in the past. They repeat a lie. In the club it was institutionalized that if you repeat a lie it becomes Actually. He insists that my management left negative results, when a court made it clear that it did not. All this causes a dramatic economic and patrimonial situation, “explained Laporta.

“We also found that urgent work had to be done at the Camp Nou, something a study reported already in 2019, to to correct 119 pathologies that, if not repaired, would pose a risk to people. This has cost 1.8 million euros. ”

Other reproaches of the president were that “the previous meeting collected in advance 79 million euros belonging to to 50% of LaLiga’s television rights and the banks charged 9% interest for it “and that” disproportionate payments have been made to intermediaries. ” Specifically, he explained that “there is a person who was paid 8 million euros to detect players in South America”.

Reference

1-Business – Wikipedia
2-Business – CNN
3-Business WorkLife- BBC

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