Laporta Admits Barcelona Have Losses Of €481 million

Joan Laporta revealed just how delicate Barcelona’s financial situation is during a press conference on Monday, with a negative net worth of 451 million euros.

After comparing their situation to other clubs, Laporta recognised that Barcelona have been overspending on wages.

“Barcelona have a negative net worth of 451 million euros,” Laporta announced, as well as having “a wage bill that represents 103% percent of the club’s total income. It represents 20-25 percent more than our competitors.”

The Barcelona president noted that they have not found it easy to encourage the players to accept lower-paid contracts.

“[We have] found a difficult situation when renegotiating the players’ contracts,” Laporta added.

“There was a modus operandi that bypassed internal controls.”