Barcelona nearly ‘dissolved’ amid mind-blowing billion-euro debt
Barcelona could have been “dissolved” back in April if it was a public limited company (PLC) after the club had accumulated over €1 billion in debt.
Barca chief executive Ferran Reverter described former Barcelona president, Josep Bartomeu’s methods of running the club as “disastrous” after making accusations that the board had signed players the club could not afford, offering inflated salaries, and even paying journalists.
“When we came in this March, we found a club that was technically bankrupt; if it was a PLC, [the club] would have been dissolved,”
The main financial concerns stemmed from overspending on players and wages.
“They didn’t consider if they could pay for the players,” he added. “[Antoine] Griezmann was signed in a rush. They realised they could not pay for him and ended up needing €85m in credit to do the deal.”
Laporta’s board is trying everything in their power to right the wrongs set by Bartomeu and no matter how difficult, progress is being made — slowly but surely.
“We’re not over the hill yet and we still need to reduce outgoings, but we can sign and renew [players],”
With the departures of superstars Lionel Messi and Antoine Griezmann, it is widely known in the world of football that these financial woes had a great effect on Barcelona’s squad this season. Sad to say, remnants of Bartomeu’s horrific stint as Barcelona president continue to haunt one of the world’s biggest clubs both on and off the field. Fans at the Nou Camp await the day the club is revived into its almighty glory.