#Bst & company upgrade
#Bst & company full

Big earners Lionel Messi and Griezmann both left the club, while other players agreed to pay cuts, with в‚¬155m coming off the wage bill in total.

Therefore, Barca have had to make sacrifices this summer to guarantee the club's future. The club's actual losses have totalled в‚¬481m. Reverter also played down the effects of the coronavirus, saying that, even without the impact of the pandemic, Barca would still have registered losses of в‚¬390m for the 2020-21 season. They realised they could not pay for him and ended up needing в‚¬85m in credit to do the deal.'ДЄ forensic research study has been commissioned with the aim of detecting other possible irregularities in the previous management of the club, including whether payments made to journalists were justifiable. 'They didn't consider if they could pay for the players,' he added. Reverter went one step further, criticising the club for signing players they could not afford. Moreover, these operations have resulted in significant and unusual intermediation costs in previous years.' 'If the same squad had been kept in this season, the payroll would have amounted to в‚¬835 million, 108% over recurring revenue. 'The signings were made at high prices and by signing contracts that included new remuneration concepts such as loyalty bonuses and end-of-contract premiums that increase future spending. 'Between 20, there was a 61% increase in the payroll, which is the same as Juventus' entire payroll, caused by new signings and player renewals,' Reverter said. However, he said the bulk of Barca's financial problems are down to overspending on players and wages. He also detailed how 'deteriorated training facilities' and 'a Camp Nou in a precarious situation' needed immediate upgrades after Laporta was elected earlier this year. Reverter said it had been difficult to carry out due diligence because the previous board had deleted emails every 90 days and used personal computers at times, too, making it hard to track everything that had gone on behind the scenes. Debt and future liabilities amounted to в‚¬1.35 billion and there was an urgent need for refinancing.' 'There was no cash flow and we had difficulties paying salaries. 'When we came in this March, we found a club that was technically bankrupt if it was a PLC, would have been dissolved,' Reverter said.

#Bst & company full

only)Д«artomeu resigned amid growing discontent among supporters in October 2020 and was eventually replaced by Joan Laporta in March following a delayed election process due to the pandemic.ДЄfter Laporta's board looked deeper into the club's accounts, Reverter revealed the full extent of the club's financial woes in a news conference at Camp Nou on Wednesday. Reverter branded former president Josep Maria Bartomeu's running of the club as 'disastrous,' accusing him and his directors of signing players they could not afford, offering inflated wages and paying money to journalists.

#Bst & company upgrade

You have reached a degraded version of because you're using an unsupported version of Internet Explorer.ДЇor a complete experience, please upgrade or use a supported browserД«arcelona would have been 'dissolved' in April if public company amid financial crisis - CEOД«arcelona chief executive Ferran Reverter has said the club would have been 'dissolved' in April if it was a public limited company (PLC) after being taken to the brink of bankruptcy by the previous board.