Joan Laporta negotiates against the clock to be president

The guarantee of 124.6 million required to be invested remains without materializing 24 hours after the expiration of the term. Giró's resignation upsets the winner of the elections, who is looking for capitalists.


Joan Laporta has 24 hours left to get together a board and an investment group that will allow him to be president of Barcelona. The very long electoral campaign and winning the elections last Sunday was a child's play bought with the frantic last hours that the former president lives in search of a guarantee of 124.6 million euros to certify his victory at the polls. Since Jaume Giró, his main economic bulwark in the candidacy, got off the boat on Sunday, problems have accumulated.

By virtue of the club's bylaws, Laporta has only 24 hours to present the endorsement at the LaLiga headquarters and be invested as president. A presidency that depends on a race against the clock in search of new managers and investors that lasted into the early hours of the morning.

The alarms, which were already on since Giró's resignation on Sunday, went off to unsuspected limits when late at night the newspaper Ara and RAC1 reported that the president-elect did not have the definitive endorsement and was negotiating over the horn.

The solution was the entry of the Audax Renovables estate, with Eduard Romeu as vice president who seemed safe on Monday morning, but was reeling near the final whistle.

As explained by RAC1 Laporta and its directors were calling various Catalan businessmen at midnight yesterday offering them a position on the board in exchange for endorsing an amount between 6 and 12 million euros to be able to present the endorsement on Tuesday morning.

According to sources of Laporta's candidacy, the endorsement was going to be signed yes or yes last Sunday and it was going to be presented on Monday at LaLiga headquarters so that the winner of the elections could be invested as the new president on Wednesday. Neither of these deadlines is being met. And they close, it will be absolutely in the photo finish.

To add more pepper to the case, the newspaper ARA reported that the Laporta board was only capable of covering 50 million of the 124.6 guarantee that would be negotiated with Banc Sabadell, which in turn would require a counter guarantee of 70 million that it owes be achieved in a few hours. The Catalan newspaper pointed to the possibility that this amount would be covered by the investment fund HPS Partners.

Uncertain hours for a club permanently living in the abyss.

Photos from
Powered by Blogger.