Barcelona concern eased as Joan Laporta confident on key payment

There was alarm for Barcelona on Tuesday with a report in El Periodico outlining that newly elected president Joan Laporta was struggling to meet a crucial deadline for a depository payment.

The club’s legislature states that any newly elected president must make a depository payment of 15 percent of the club’s budget – which currently stands at €124.6m – within ten days of their election.

That means that Laporta must deposit that sum of money by Wednesday, and that was in doubt due to a collapse in an agreement with Catalan-based renewable energy company Audax Renovables, who were set to guarantee €70m of that payment.

José Elías Navarro, the founder of Audax, claimed that it would be impossible for him to fund the club – they can only assist them at a managerial and experience level.

Catalan radio station RAC1 then claimed that the agreement may be resurrected with the company’s Eduard Romeu appointed to a key position on the Blaugrana’s board.

Now, Cadena Cope say there is renewed confidence the payment can be generated.

Indeed, it is suggested that payment can be secured by Tuesday and Laporta can subsequently be sworn in as the new president officially.

Tags Joan Laporta