Laporta admits Barcelona have ‘losses of 481 million euros’

Joan Laporta revealed just how delicate Barcelona’s financial situation is during a press conference on Monday, with a negative net worth of 451 million euros.

After comparing their situation to other clubs, Laporta recognised that Barcelona have been overspending on wages.

“Barcelona have a negative net worth of 451 million euros,” Laporta announced, as well as having “a wage bill that represents 103% percent of the club’s total income. It represents 20-25 percent more than our competitors.”

The Barcelona president noted that they have not found it easy to encourage the players to accept lower-paid contracts.

source: marca.com