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24-hour deadline for Laporta to be sworn in as president

Tuesday, March 16, 2021 – 17:03

The elected president of Barcelona continues to negotiate the structure of the guarantee of 124.6 million euros that the League must validate before this Wednesday afternoon. Failure to do so will lead the club to new elections

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Joan Laporta, this Monday at the Camp Nou.

One of the rival candidacies of Joan Laporta In the last electoral process, questioned by the experiences in the last hours regarding the agonizing presidential inauguration, define this Tuesday the situation with extreme harshness: “It is being a lack of purpose.”

Beyond those quarrels that seemed little after seeing the embrace between the presidential candidates the night that Laporta won the elections, the dawn of the new project of the lawyer at the head of the club is not being far from as placid as his triumph in the polls. In fact, if the former Barça president does not send LaLiga a guarantee of 124.6 million euros before the agency’s offices close on Wednesday afternoon, Laporta will not be able to be sworn in as president. The statutes of the Barça club are clear in that sense. The time limit to take possession is ten calendar days, the term that ends this Wednesday. If not, a Manager will have to re-direct the club and call new elections. “Not much less is it going to be like that,” they insist from Laporta’s surroundings. The president-elect’s sister, Maite, by the way, already sent invitations to take office today, scheduled for this Wednesday at 6:00 p.m. at the Camp Nou.

The mess has revealed that the candidacy of Joan Laporta, despite the long electoral process, had neglected to ensure the structure of the monstrous guarantee required by the Sports Law (15% of the spending budget) for clubs that are not public limited companies (Barcelona , Real Madrid, Athletic and Osasuna). In these four entities, managers have to respond with their equity to losses. Everything went wrong for Laporta when Jaume Gir, former CEO of Fundaci La Caixa, resigned from the board of directors last Saturday. Who should be the economic vice president had led the negotiations to obtain the endorsement, being himself one of those who could offer the greatest guarantees. Gir, however, chose to quit at the last corner (officially for “work reasons”), so Laporta’s team was left at the expense of finding new pieces for the puzzle.

Banco Sabadell is the one who will be in charge of a section of the guarantee, although the executives, without Gir, could not contribute more than 55 million euros as equity. To do this, several options were opened, with the countervails as a solution through the intervention of Vulture funds to cover the remaining amount. With a major setback: the interest to be paid by managers, over 7% per year, forced them to pay out of pocket an amount of around six million euros a year.

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Audax and Jos Elas

Hence the beginning of a frantic race to incorporate new managers who could contribute assets to the required guarantees. Or the irruption of a magnate again cuo, Jos Elas, and its Audax power generation and marketing group. Elas, who last March already tried to get closer to the candidacy of Vctor Font With the aim of taking positions in Barcelona, ​​he cannot be a manager because he does not accredit enough years of membership in the club. However, he offered the possibility of completing the endorsement through his right-hand man and vice president of Audax, Eduard Romeu. A complicated negotiation that should lead Romeu himself to one of the most responsible positions in the club, the economic vice-presidency.

Laporta is clear that he will reach the goal and take the presidential seat this Wednesday on the grass of the Camp Nou. The prologue to his term, however, has put some of his companions on notice.

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