Spanish Football Club, Barcelona has revealed the full extent of their financial problems.
It has emerged that they were practically bankrupt when Joan Laporta took over as President in March this year. The Club is £115 billion in debt.
Barcelona’s Chief Executive Officer, Ferran Reverter says the Club would have been dissolved in April if it had been a Public Liability Company, and described former Club President, Josep Maria Bartomeu’s running of the Club as disastrous.
Reverter accused the former Board of signing the players they could not afford and offering inflated wages. The Club has since reduced its play roll drastically which is one of the reasons that they could give Lionel Messi a new contract.
