Barcelona president reveals club is €1.35B in debt

FC Barcelona's President Joan Laporta EFE

Barcelona president Joan Laporta reveals club is €1.35 billion in debt

By Erin Walsh | Last updated 8/16/21

Barcelona president Joan Laporta revealed during a press conference Monday that the La Liga giants are €1.35 billion in debt, according to Sky Sports.

Laporta blamed former president Josep Maria Bartomeu for the situation before he stepped down from his role with the club last year.

"Barcelona has a negative net worth of €451 million – it is a terrible inheritance. What has been happening is very worrying," Laporta said. "Bartomeu's (open) letter is an effort to justify management that is unjustifiable. It is an exercise in desperation. They are responsible for everything until March 7. They will not escape their doing."

The amount of money that salaries take up at the club is even more concerning, especially because Lionel Messi was forced to sign elsewhere due to the club's financial situation.

@JoanLaportaFCB: ❝Our salaries represent 103% of the Club's total income. That's 20-25% more than our competitors.❞ pic.twitter.com/8e1pV3tBRX
— FC Barcelona (@FCBarcelona) August 16, 2021

Even with Messi gone, Laporta said more players would have to lower their salaries in order to keep the club afloat. Gerard Pique recently agreed to a decreased salary in order to register Memphis Depay and Eric Garcia prior to Sunday's league opener against Real Sociedad.

Barca impressed in their first game without Messi in years, defeating Real Sociedad 4-2. But as Laporta said, Bartomeu will be held accountable for putting The Catalan club in serious financial trouble.

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