Tuesday, May 24

Time trial for the endorsement of Laporta

  • The president hurries the last hours of the deadline to see how he solves the procedure for the investiture

  • He needs to close a counter-guarantee of 70 million to reach the 124.6 that he has to present in LaLiga

  • The club’s statutes would force new elections if the endorsement of 15% of the budget has not been approved this Wednesday

Obtaining endorsements has become a time trial for Joan Laporta. On Monday, before watching from the Camp Nou box how Messi reached a new record at Barça-Huesca, he seemed to have obtained the counter-endorsement of 70 million that he lacked for the 124.6 that he must collect to be able to officially start this term. But after the meeting he had to continue negotiating after the agreement with Audax was complicated, whose vice president was going to be the financial manager of the club after the departure of Jaume Giró, which has turned the issue of guarantees into a stumbling block.

The club’s bylaws state that once the elections are held, the winner has 10 days to present an endorsement of the 15% of the budget. A term that ends this Wednesday. If they are not presented or approved by the League, the entire electoral process should start all over again.

The Audax factor

One of the keys to the configuration of the new board was someone who will not be part of it: the owner, founder and first shareholder of Audax Renovables, José Elías Navarro, “Audax cannot put money in Barça as it is a listed company, it is totally impossible,” he tells this newspaper. It doesn’t make sense for me to put my money into a project that I don’t control or participate in. I can help at a management or knowledge level, but materially I cannot join the Barça board because I don’t have the necessary seniority».

Also Read  Manchester United boss Ralf Rangnick's time at Lokomotiv Moscow: Fraud or misunderstanding?

The American way

Although he did not formally put money out of his pocket or be on the meeting, he spoke with Laporta to give in to his right hand after Giró’s frightened. Barça’s current financial situation requires creative solutions that unlock revenue paralysis. The Audax solution He came to adjust appropriately to the situation, with Romeu’s experience in futures contracts. “Romeu contributes his patrimony and is able to guarantee his part within the board, the problem is that not all the members of the Laporta team can guarantee the project with their money,” explained Elías Navarro.

At the end of Monday the pact between Audax and Barça had run aground, putting on the air the figure of Romeu as economic vice president and forcing Laporta to look for other alternatives to complete the counter-guarantee of 70 million that the Bank of Sabadell. As the newspaper ‘Ara’ points out, the ‘plan b’ is the investment fund HPS partners, that in return would charge a commission of more than 5%.

It may interest you

The Camp Nou, waiting

Besides Romeu, the other new name foreseen among the firms was that of Joan Soler, the president of Vilafranca. The leader appeared in the candidacy of Jordi Farré. If the Gordian knot of the endorsement is unlocked this Tuesday, on Wednesday the inauguration of Laporta will be celebrated, which will take place at 6:00 p.m. at the Camp Nou in a ceremony with 350 guests, with relatives and friends of the new leaders. It would be a couple of hours after the transfer of powers with the manager of Carles tusquets and before beginning to distribute the portfolios in the enlarged board after the departure of Giró (in which there could be almost twenty executives, four more than the initial ones) where Rafa Yuste will occupy the sports vice presidency and Josep Cubells He will be in charge of basketball, as happened in the previous Laporta term.

Also Read  When will Ben Roethlisberger retire? What the Steelers QB has said about the future beyond the 2021 NFL season


Leave a Reply

Your email address will not be published.