9 hours agoCompliments in Barcelona: Laport in trouble due to lack of money
Periskopi(5 years ago)
(5 years ago)The election of Joan Laporta as Barcelona's new president was intended to warn a new era of calm and progress at “Camp Nou”. However, just over a week after his election there's an alarm at the club as explained by a report in “El Periodico”, under which he [...]
Joan Laporta's choice as Barcelona's new president was intended to warn a new era of calm and progress in “Camp Nou”
However, just over a week after his election there's an alarm at the club as explained by a report in “El Periodico” under which he is unable to make a mandatory payment.
Under the club statute, each newly elected president should make a depositing fee of 15 per cent of the club's budget, which currently stands at 124.6m euros within ten days of their choice.
However, the renewable energy company Audax Renovables, based in the Catalan capital, was the company with which Laporta had an agreement to pay 70m euros of that amount, but which collapsed on Monday due to the nature of the deal.
José Elías Navarro, founder of Audax, has confirmed that it would be impossible for him to finance the club, they can only help the Catalans on a level of management and experience.
Now, Laporta must try to get a Plan B and suggest he can borrow the amount from HPS Partners, but they would require 5 per cent of interest, which would increase the club's financial problems.
Exactly how Laporta will resolve this issue remains unclear, but he is trying to find a financial supporter in a short term to ensure that he can officially complete the presidential position Wednesday.
