Barcelona president Joan Laporta has expressed confidence that the club's financial recovery will be complete "sooner than expected" following more than two years of careful management.
Financial mismanagement under the previous regime, combined with the economic impact of the Covid-19 pandemic had left Barca in a dire position.
The club was forced to repeatedly cut outgoings and find various ways to raise fresh capital – including selling off stakes in future earnings – just to allow them to continue to register players and new contracts in line with La Liga spending rules.
At the lowest point, Barca had to cut ties with Lionel Messi in the summer of 2021 because they didn’t have the financial scope to register an already agreed contract renewal.
After high player turnover in 2022, this past summer saw minimal spending 2023 as Ilkay Gundogan and Inigo Martinez arrived as free agents and Joao Cancelo and Joao Felix joined on loan deals without an option or obligation to buy. Just €3.4m was spent on Oriol Romeu.
Debt was still reported to be around €1.3bn in June, while the Espai Barca project that includes the redevelopment of Camp Nou has resulted in a €1.4bn finance agreement that will start to be paid off once the stadium is re-opened and be fully paid off over 24 years.
But, overall, Laporta appears confident that Barca's more immediate financial troubles won’t last too much longer – he hinted the off-field fortunes are tied to that of the team’s performances.
"We are improving in all aspects," he said, via Marca. "We all think that we have a very good squad this year. Congratulations to everyone who has sporting responsibilities. We have made a lot of efforts to be able to register all the players. We think it is worth the effort we have made.
"As we have a lot of confidence in the management we are doing, the club will be financially recovered sooner than expected in the strategic plan. If the team works, the club notices it. It is very important that the sporting part works because it helps everything."
READ THE LATEST BARCELONA NEWS, TRANSFER RUMOURS & GOSSIP
This article was originally published on 90min as Joan Laporta gives positive update on Barcelona's financial troubles.