Barcelona’s debt has risen to £1.15billion – Says Joan Laporta

Barcelona President Joan Laporta has revealed that Barcelona's debt has risen to £1.15billion and the club needed a loan just to pay wages.

Laporta revealed the daunting figures today after the Catalans played their first LaLiga match since Messi’s departure.

The tumultuous saga surrounding the Argentine talisman’s exit comes as the Blaugrana struggled to meet La Liga's salary cap rules.

Even with Lionel Messi’s huge wage taken off their books, the club remain in a cash crisis.

The 59-year-old Barcelona President took over in the spring after the much-criticized reign of Josep Maria Bartomeu, who resigned in October. 

The La Masia chief detailed how he was immediately forced to take out a £68million Goldman Sachs loan simply to pay the players' salaries.

After a debt restructuring of £475m, the total debt owed by the club has topped £1.15bn.

Laporta stated that 103 per cent of Barca’s income is currently going on its overall wage bill, which totals £524m in pay and amortizations.

In addition, the Spanish side estimates they lost £77m in income due to the coronavirus pandemic.

"We have encountered an erroneous economic salary policy, which cause a lot of damage," Laporta told a press conference.

"It's what the experts call the inverted pyramid; young people with very short contracts and very long contracts for veterans."

Barcelona kicked off their season with 4-2 at home to Real Sociedad on the weekend and Laporta described how significant repair works were undertaken on their Nou Camp stadium.

"We found urgent works required at the Nou Camp and we found this in a 2019 report that warned of a danger to the public.

"There were 119 issues that cost £1.5m. Thanks to this work we were able to open the stadium yesterday.

"If it had been a game earlier, we wouldn't have been able to play at the Nou Camp, because we couldn't put the fans at risk." Laporta added.

Several players have been approached for pay cuts with Gerard Pique's recent agreement allowing Barcelona to register new signings Memphis Depay and Eric Garcia.

However Sergio Aguero is still not officially registered to play, although the veteran striker is out anyway with a calf injury.