Barcelona president Joan Laporta has revealed the Spanish club is 1.35bn euros (£1.15bn) in debt, describing the situation as "very worrying".

The club's wage bill currently accounts for 103% of total income.

Laporta blames predecessor Josep Maria Bartomeu for the debt, accusing him of leaving a "terrible inheritance".

Extending Lionel Messi's contract would have made the wage bill accountable for 110% of revenue, which La Liga refused to accept.

Messi announced an emotional exit from the Nou Camp last week and signed for Paris Saint-Germain on a two-year contract.

"Our salaries represent 103% of the club's total income, that's 20-25% more than our competitors," said Laporta, now in his second term as president after winning March's election.

"The first thing we had to do when we arrived was to ask for a loan of 80m euros because, otherwise, we could not pay the salaries. The previous regime was full of lies.

"Barcelona has a negative net worth of 451m euros - it is a terrible inheritance. What has been happening is very worrying."

Bartomeu defended himself in an open letter released on Saturday, claiming financial measures he would have put in place had he not been forced to resign in October would have allowed Messi to stay at Barcelona.

"As is known, our board of directors planned to call elections on 21 March, within the statutory period at the end of our mandate, which would have allowed us to take on and carry out the settlement of the 2020-21 season accounts," Bartomeu said.

"We would then have taken the decisions necessary to avoid arriving at the current financial situation.

"We would have been the only ones responsible for the closure [due to the pandemic] and its consequences, a decision that the new board has not taken throughout these past months, making clear their inaction."

Laporta described Bartomeu's letter as "an effort to justify management that is unjustifiable" and "an exercise in desperation", adding: "They will not escape their doing."

New signings Memphis Depay, Eric Garcia and Rey Manaj were only able to be registered by La Liga after defender Gerard Pique agreed to a wage cut to comply with salary cap rules.

https://www.bbc.com/sport/football/58235195

Lalasticlala Mynd44

Lalasticlala Mynd44

Lalasticlala Mynd44

Signing the likes of coutinho and dembele for over £200m. What did you expect. Was it not obvious the club had very poor financial management

Seriously?

debt caused by carless decisions, last year covid pandemic n most importantly spending more on player wages..
the red flags we there for all to see after d resumption of football dt was halted by d covid break, Leo was unhappy and wanted to leave, all bartomeu had to do was cash in on Leo n free the club from the huge wage Leo would take for the coming season even when he knows dt barca were too broke to afford Leo..
instead him n tebas forced Leo to stay by dragging him to court, Leo was still humble bcoz its senseless fighting d same barca dt made him..
Leo stayed n even pitied barca by leading oda other players to accept wagecut BT still, barca were drowned in huge debt..
barca finally let Leo leave because they had no choice n some haters are Still saying dt Leo is greedy n would av stayed in barca n played for free, can barca do d same for him if tables were turned??

Toeze:
Signing the likes of coutinho and dembele for over £200m. What did you expect. Was it not obvious the club had very poor financial management

bartomeu spoiled everything...allowing messi leave last season would have helped d club with 200m sign on fees n also the huge wage Leo got all tru dt season..
barca knew dey were too broke to keep Leo or even pay him half but bartomeu still allowed him stay and resigned...
pique jus agreed to a huge pay cut to allow barca register new players n all oda stars would key into the pay cut scheme because it had gotten dt bad

Good news for all of us at HALA MADRID