LIGA - Reverter: Barcelona would have been "dissolved" in March
Barcelona CEO Ferran Reverter stated on Wednesday that when Joan Laporta took over as president in March, the club was "legally bankrupt" and would have been "dissolved" if it had been a public limited company.
The financial problems of the Spanish powerhouse were exposed in August, when they were forced to let Lionel Messi join Paris Saint-Germain after conceding they couldn't afford to maintain the six-time global player of the year.
Following the departure of Josep Maria Bartomeu, Laporta returned for a second term as president, inheriting debts of 1.35 billion euros ($1.56 billion) and a bloated first-team salary.
"If the club had been a PLC (public limited company) it would have been dissolved," Reverter revealed during a news conference in which he outlined the results of an audit carried out by accountancy group Deloitte.
"In March 2021, we were in a situation of technical bankruptcy, but as a sports association we were able to refinance the debt," explained Reverter, revealing the club had "difficulties in paying salaries" due to "almost zero cash flow".
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