The summer market closed without FC Barcelona achieving one of its priority objectives: returning to the 1:1 rule of LaLiga's financial 'Fair Play'. The board led by Joan Laporta was hoping to receive the green light from LaLiga before June 30, but the weeks passed and the club failed to balance its books.
Even though the transfer window left revenues exceeding 47 'kilos' and only a little over €28M was spent on the signings of Joan García and Roony Bardghji (Marcus Rashford arrived on loan), the club closed the summer still exceeding its salary margin and with options to reinvest only a portion of its earnings in the market.
The VIP seats, a 'lever' at 'half mast' for FC Barcelona
In that sense, there were two significant factors that conditioned the definitive return to the 1:1 rule. The last summer in which the club operated normally was in 2019. Afterwards, the poor decisions made by Josep María Bartomeu's management, along with the financial burden caused by the covid-19 pandemic, led the club's economy to an unprecedented crisis.
In January, the club received the green light from LaLiga for the expected return to the regulations that allow operating normally in the search for reinforcements, reinvesting every euro earned from transfers or released in salary mass in mid-January.
However, the tranquility only lasted a couple of months, as the club's new financial auditor, Crowe Spain, decided not to compute the income derived from the sale of the exploitation rights of 475 VIP seats in the Spotify Camp Nou until its construction and operation are completed.
These 100 million euros, an obligation of the investors Fortia Advisor Limited and New Era Visionary Group, were the major obstacle for Barça to recover the 1:1 rule this summer. Fortia has already paid the €30M that corresponds to it, while New Era only paid €28M initially.
The other 42 million must be paid before the end of the 25/26 financial year in June of next year. That is, Barça only has 58 'kilos' in its coffers out of the 100 M€ initially computed. Crowe only included the money collected in its audited report, which meant that the club lacked those just over 40 M€ to balance its 'Fair Play'.
Barça ruled out sacrificing more assets to return to the 1:1 rule
Due to this, the registrations of Joan García, Szczesny, Gerard Martín, and Bardghji took longer than expected. It was also not possible to go for more reinforcements, although Hansi Flick is happy with the Barça squad. And the renewals of Frenkie de Jong, Eric García, and Andreas Christensen still need to be closed.
In fact, the club had to activate two guarantees for 7 M€ and 5 M€ to finally resolve the mess with the registrations. What was the quickest solution? To have closed a 'top' sale, such as that of Marc Casadó or Fermín López. However, both footballers decided to stay and the club respected their decision.
Hence, the board assures that, if Barça is still outside the 1:1 rule, it is largely by its own decision. We will have to see from now until January if the club finally recovers financial normality, already back at the Spotify Camp Nou and without urgent issues to resolve.