“Barcelona’s economic situation is worrying” - Joan Laporta reveals extent of club’s debt

Barcelona's poor economic situation has been one of the most discussed topics so far this summer. Newly appointed president Joan Laporta has come out to reveal the extent of the club's financial crisis in response to an open letter that was penned by his predecessor Josep Maria Bartomeu last week, in which the latter tried to vindicate his administration.

Bartomeu defended his administration over accusations of mismanagement and the crippling of the club's economy in the letter. Laporta responded to it during a press conference on Monday, where he stated that Bartomeu's letter is full of lies, while threatening that the ex-Barca chief won't go unpunished for the mess he put the club in.

Laporta was quoted as saying:

"The economic situation is worrying and the financial situation is dramatic. Barcelona has a net worth of minus €451m (£383m/$531m) and a debt of €1.35bn. No one is going to escape from those responsibilities.

Laporta “As of today, Barca’s debt is €1.35 billion. The club’s economic situation is very worrying and its financial situation is dramatic."

— Dermot Corrigan (@dermotmcorrigan) August 16, 2021

"Bartomeu's letter is full of lies. It obeys an effort to justify a management that is unjustifiable. It is an exercise in despair. We have a salary bill that represents 103% of the club's total income. It represents 20-25% more than our competitors."

❗️ Former Barcelona President Bartomeu has sent a letter to Laporta. See the screenshots below to read it for yourself. [efe via md] pic.twitter.com/D9mroLP1vs

— barcacentre (@barcacentre) August 13, 2021

Barcelona entered the summer with serious financial constraints, which led to the loss of their best player Lionel Messi. The club had to convince their players to take pay-cuts before they were able to register two of their new signings - Memphis Depay and Eric Garcia.

Bartomeu wrote an open letter to Laporta last week

Barcelona off to a great start in La Liga

While the departure of Lionel Messi and the ongoing drama came as a big blow to the entire Barcelona squad, the current group of players didn't allow that to affect their performances on the pitch.

Ronald Koeman's men kicked off the new season with a vital La Liga clash with Real Sociedad on Sunday. They played a great game and emerged on top with an impressive 4-2 victory. Martin Braithwaite bagged a brace while Gerard Pique and Sergi Roberto also found the back of the net.