FC Barcelona celebrates this Sunday afternoon an assembly of delegates that will mark the transfer of powers of the board of former president Josep Maria Bartomeu, who resigned last October, to which Joan Laporta directs, who returned to the club in March. More than football, they will talk about money and the approval or suspension of the accounts for the 2019-2020 season, the budget for the 2020-2021 financial year, the refinancing operations -and especially the credit requested from Goldman Sachs- and the Super League These are the priority issues on the agenda that the 4,457 members summoned to the Camp Nou will debate.
On the other hand, the audit commissioned by the current council will not be discussed, because it will surely not be completed until July, nor will the modification of the statutes, two main issues that will be part of the extraordinary assembly initially scheduled for next October after the pandemic altered the calendar. electoral process and will provoke the celebration of elections in the middle of the 2020-2021 academic year. The accounts that will now be discussed should have been approved a year ago, a circumstance that will entail the presence before the delegates of the one who ended up being economic vice president Jordi Moix on the Bartomeu board.
The budget for the 2019-2020 season closed with a deficit of 97 million, after forecasts pointed to a surplus of 11 million, while the reference for 2020-2021 stood at 828 million and one million benefits, figures that They have been altered by covid-19: sources consulted consider that the losses will exceed 300 million and may reach 400. The numbers presented by Moix, in any case, will surely have the approval of the Laporta board. The argument is that in this way he will be able to negotiate credits immediately and will avoid the financial collapse of the Camp Nou.
The refinancing operation includes a loan from the Goldman Sachs investment fund of 525 million in order to face immediate payments and restructure debt that amounts to 1,173 million. The assembly will also treat, without knowing if it will vote or simply inform, about the registration and permanence of the Barça club in the Super League – Barça reserved a clause in the contract that makes their participation subject to the compromise partners. On the other hand, the reform of the bylaws has been postponed after the date of the meeting was changed from June 4 to 20, and any modification could be challenged.
The critical economic situation, as well as Barçagate, will be redundant issues of an assembly in which a priori it is ruled out that the current board asks the previous one for responsibilities, unlike what happened when Sandro Rosell replaced Laporta in the presidency -Laporta neither asked Gaspart’s board of directors to be held accountable in 2003. The current president awaits the results of ongoing audits to decide whether or not to take action against a board that claims to have generated more than 200 million benefits since 2010. The covid has now served to hide the mismanagement of Bartomeu lately.
Eddie is an Australian news reporter with over 9 years in the industry and has published on Forbes and tech crunch.