Barcelona chief executive Ferran Reverter said Wednesday the club was “technically bankrupt” when Joan Laporta took over as president in March, and would have been “dissolved” if it was a public limited company.
The Spanish giant’s financial woes were laid bare in August when they were forced to allow Lionel Messi to join Paris Saint-Germain after admitting they could no longer afford to keep the six-time world player of the year.
The new board inherited debts of 1.35 billion euros ($1.56 billion) and a bloated first-team payroll as Laporta returned for a second spell as president following the resignation of Josep Maria Bartomeu.
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