Barcelona's newly appointed president Laporta short of €70m out of €124m due payment

Football Club FC Barcelona finally got a new president in Joan Laporta after the whole Josep Bartomeu fiasco which dragged the club into turmoil. Things started to look bright for the club as it turned over a new leaf and was set to start off a new chapter under a new man at the helm of the club. However, events have transpired which see the club president hurried across in the search of €70 million during the last hours of a deadline in order to complete the investiture and kick off his reign as the new president of the football club.

Laporta payment: President yet to present guarantee deal to Barcelona board

New FC Barcelona president Joan Laporta is running short of time as he is currently on a wild goose chase looking to obtain guarantees within a small time frame in order to kick off his tenure as the head of FC Barcelona.  According to reports, the bylaws of FC Barcelona state that the winner of any election has 10 days to present a guarantee worth 15% of the club's budget. Those 10 days are set to end on Wednesday and if Joan Laporta fails to produce a guarantee for the same, or present a deal, then the club will have to undergo the whole electoral process again.

While Lionel Messi was busy breaking records going on par with Xavi on the highest number of appearances for the Catalunya club, the club president watched with delight as he believed to have obtained a counter-guarantee worth around €70 million which was the exact number that he needed to add into the €124.6 m which he was expected to collect to and officially start off his term as the president of the club.

However, Laporta had to continue negotiating even after the meeting as the agreement with Audax is complicated as the current vice president of Audax was expected to be named as the financial manager of FC Barcelona with the Spanish giants parting ways with Jaume Giró. Such intertwined issues and connections have presented themselves as a major stumbling block for the club as Laporta is still looking for someone to issue the guarantees as soon as possible.

The is not the only ongoing concern at the club as FC Barcelona currently find themselves under immense debt which is roughly amounted to over €1.2 billion. The worst part of having such a major debt is that the Blaugrana outfit reported having a short-term debt worth around €700 million from the €1.2 billion which will have to be paid off soon. It is also being reported that many players have not been receiving their full wages as the poor financial structure of the club is harming them which has had a massive impact on the club's plan for the upcoming transfer windows.