Josep Maria Bartomeu’s name may no longer be on the front pages of Spanish media, but Barcelona continues to struggle in the disastrous financial situation the former president left to Joan LaPorta.
Since then, Catalans have been working to activate a number of economic levers to ensure an immediate infusion of cash. By mortgaging some long-term assets, they managed to rebuild a strong squad and win La Liga, but things aren’t much better this summer.
The Catalans are once again having trouble registering players for the league.
Their signing of Joao Cancelo is a tightrope walk and their dream of bringing in Joao Felix is in jeopardy.
Even more worryingly, the club has yet to register some players in La Liga.
According to reports yesterday, club president Joan LaPorta and treasurer Ferran Oliver have personally guaranteed the transfer if funds don’t arrive through other sources.
Gerard Romero has now added that Barcelona have decided to go down this route. The club have informed La Liga that they will be offering LaPorta and Olivier personal endorsements.
Once the signature arrives, La Liga will lift the impediment to pending registration and enable Barcelona to complete the pending transfer.
Marta Ramón added that the two administrators of Banco Sabadell are ready to make the endorsement. It was a simple process as this was actually the fourth time such a move had been made.
The President and Treasurer will provide a guarantee of 20 million euros. This will help register Inaki Pena, Garvey and Inigo Martinez, but will not directly help sign Joao Felix and Joao Cancelo.
The German investment that never came
Barcelona have remained calm amid financial pressure in recent weeks thanks to a commitment from German firm Libero.
Barca was due to receive 40 million euros from foreign investors, with 20 million euros expected to be in place by Thursday.
With the deadline approaching, LaPorta and Oliver are now ready to put up €20 million as personal guarantees to meet Financial Fair Play guidelines.
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