Every football fan in the world knows that Barcelona is a mess financially. Losing their greatest ever player, Lionel Messi, on a free this summer due to the inability of the club to meet the salary cap of La Liga, despite Messi agreeing to take a 50% pay cut to stay at the Camp Nou.
Josep Bartomeu’s reign has left the club with over a billion euros worth of debt. Barcelona’s newly appointed president, Joan Laporta, recently in an interview presented a grim picture of the club’s financial situation, saying its debt had risen to 1.35 billion euros ($1.6 billion).
He also stated that the club is currently left with a negative net worth of 451 million euros ($532 million). The pandemic exposed Barcelona’s shortcomings. They used to be more than a club. Now, the club is suffering because of financial mismanagement.
“Our salaries represent 103% of the club’s total income. That’s 20% to 25% more than our competitors, we have found ourselves in a difficult situation to renegotiate the players’ contracts.” (via AP News)