So far the appearance of Ferran Reverter.
The Super League
“We are quite conservative in the economic plan. What we do not have closed, we do not put it. For us, the Super League is first to make a more attractive competition. Bara believes in a more attractive and open European competition. the direction contrary to Bara’s interests in fair play. We would have to reflect. What UEFA does with fair play is to open that it can be added constantly and that the ratios skyrocket. In this we are more aligned with LaLiga. If we continue in this way, this favors the club-states and hurts the Bara brand. “
Impact of Messi’s absence
“Messi has been the best. We followed up the first week with the jerseys. In a little covid the ratios deviate. Messi has been very important and will continue to be for Bara. That does not mean that the Bara brand, if it does things well, continue to be the best club. Our perception is that the Bara brand is doing well today. In the medium term, we must do our homework and continue to bring in the best. We plan not to lower income, but to increase it. “
Asking spills to partners
“As of today, for the record, this Board has not considered it. Everyone is free to make whatever statements they want. We have made a feasibility plan and that is not on the table.”
LaLiga fair play
“LaLiga is much more restrictive than UEFA. I am not saying that LaLiga is badly done, but that there has to be consensus because we play in both places.”
“We have to wait to have conclusions from the forensic”
Evidence of crime?
“Documentation is lacking. The forensic is being very expensive because it costs documentation. It is not my job. They will tell us. If it is a crime or not, the legal services will tell us.”
Why wasn’t Messi retained?
“Do not talk deeply about the subject. I would say two things: many think that in March, when we entered, we knew how this really was. We did not know. The increasing salaries, we have been learning it month by month. The due diligence ends in July. I have also heard comments from fair play. We are all aware that Messi could not wait until August 31 to find out if or not. I think that sums up the situation perfectly. “
Unjustified payments to journalists
“Payments have come out. I would not say unjustified. From the club and from the Peas Confederation. Everything that has invoices, is justified.”
Is the worst yet to come?
“I don’t know. I know what I told you. We have explained many things to you so that you understand what has happened in the Bara in recent years. If more things come out, we will see.”
Risk of being SA
“We are clear about it and they repeat it to me permanently. This is not on the agenda of this Board. If we have a plan and the financial institutions buy it from us, we apply it. It is a deep exercise, with effort. They are drastic decisions that must be made. and we take them. “
Can people like Ansu, Pedri or Gavi be signed and renewed?
“Those of Pedri and Ansu are on a very good path. The last exit of an important player generates a positive fair play of more than 20 million. That does not mean that we do not have to do our homework. Bara has not finished yet. lower their salary bill. We are very clear that we have to have a competitive team. The short term forced us to make drastic decisions. We know we have to have the best team possible. We will do everything possible. “
“Forensics focuses on three aspects: intermediaries, Espai Bara and suppliers. We are working very intensely. Everything has its tempos. Let us work and when it comes time, we will come to explain what we have to explain.”
Renegotiate contracts like Rakuten
“One would say that this is not the best time to look for credits and sponsors. I consider that we are the most pessimistic. Sometimes we do not realize the importance of the Bara brand. It is a world reference. It is true that we are not in our best moments , but for many people, having 400 million followers … for many we are still the leading brand When I explained what Bara is in the strategic plan, it must be borne in mind that it is the only one that really differs from the rest. It does not worry me”.
How much will Espai cost and what will the financing be?
“The stadium will not cost less than 800 or 950. If we want the best Palau, we will move between 300-400 million. We will ask for the maximum limit of 1,500 million in Assembly, so that they accept us to go and ask for that credit. We want to have that transparency “.
Dangers of being controlled by a fund
“It depends on how you have arranged your debt. Our obligations are very low. We have done it with the television rights. It is a credit with favorable conditions and that allows the club to operate with total regularity. Obviously, if we stop paying, it will have consequences” .
When can they make a profit again?
“We want that to happen next year. This year is complicated because it is still a Covid year. We are working on different levers. We have made a conservative plan to open the stadium. We calculate that from the fifth year it will return to its heritage.”
Next summer can you sign cracks?
“The first thing that must be done is the homework. We have to continue with it. If we continue in this line, of course. If Bara continues to do the homework, it will be possible to bring in the players that the club wants.”
Bad faith or incompetence of the previous Board?
“What I can confirm at the moment is that there is a disastrous management. There was no kind of planning. The improvisation was total. They jump into Espai Bara, they rush to buy players in a crazy way. A nefarious management.”
The management of the previous Board was disastrous. There was no planning “
Are there reasons to take the previous meeting to court?
“We have detected indications, but documentation was missing. That is why we have prepared the forensic. Until we finish it … we have to finish the work. From there we will decide, with the legal services, the actions to take.”
Will they get out of this?
“I have a lot of serenity and a cold head. We have a very important asset, which is the Bara brand. It is not done in a year. It has 120 years of history. I have no doubt that, if we continue working in this direction, we will leave. A club like Bara goes out to look for money in such a complicated situation and they give it to you … we asked for 500 million and they gave us 900. That implies that we have credibility. “
The press conference begins
“Bara is resilient by nature. It has been on the verge of disappearing several times. Great players have left and the club has always come forward. This board has a plan and our investors have bought it from us. We have a lot of credibility. Bara must Continue betting on what has made it great. What has made it a leading team. The Mass and the Bara style. In spite of everything, it is not enough. Sports excellence must be added. We will develop the different medical disciplines, nutrition and psychic. We will modernize the facilities of the Bara. We have always had the best and nowadays you cannot say that. I hope that soon we will be able to present you a project before Christmas. We must look for new income. Our great asset is the fans We have more than 400 million followers, you have to know and interact with them.
“El Bara presents the closing of the season 20-21 with losses of 481 million euros”
It’s the turn of the 20-21 closing income statement summary
“We found a negative net worth and we have made a financial viability plan. Given the zero operating cash flows we have lowered the sports salary payroll from 155 million in this period. We have plans to ticketing and in stores but we cannot start it yet due to Covid. We have focused on the short term with what we can solve. Regarding debt, we change the financial structure and we change from short to long. A debt of 595 million at an interest rate of 1.98% in 10 years. In the face of non-compliance, we have opted for the reduction of the wage bill and bet on the young people of La Masia. It is a decided bet. With the facilities we have started to reactivate the investment to bring the facilities up to date “
“Field 7 is a field that can cause injuries. We had to change it”
“Covid affected Bara with 43 million in the 2019-20 season and 65 million euros in 2020/21. The impact of Covid is understood with the lack of ticketing, the sale of merchandising, tours … added to what the club saves with ERTEs in personnel and management expenses. Even if there had been no Covid, Bara would have had losses “.
“Chopping invoices has two objectives: to avoid passing control and due to an operational issue, because when a club does not work, people look for life and create more confusion in the club. It is very difficult to govern a company with 4 PRs”
“We have the feeling that when we signed, it was not thought if they could pay. The same night that Griezmann is signed, they realize that it cannot be paid. He went to look for a credit of 85 million euros to cover the cost. Or that of Coutinho, with 16.6 million more financial cost “.
“We went from an increase in debt of 159 million euros to 673 million in debt. This never went through Assembly“
“The consequences of this: an unsustainable sports model (only one La Masa player consolidated in the last five years. A skyrocketing salary mass, being the highest in the market, an increase in debt and the difficulty of finding an outlet for our players”
The normal thing in football is commissions of 5 to 10 percent. Here they were giving up to 33 percent “
“The causes of the economic situation: new players (three of the five most expensive in history) increase salary and amortization. New contracts and renewals, with salaries that are increasing. New concepts and remuneration, such as bonuses of loyalty, end-of-contract bonuses … And commissions for non-habitual intermediaries. The normal thing is a commission of 5% to 10%. They were giving 33% “
“Since April 2021, the club could not continue operating. There was no cash. There was also a breach of commitments with banks, ratios of the League, UEFA and Statutes, with which we limited the registration of players.”
“If PROCICAT and LaLiga had let us finish the season with the public, the Camp Nou would not have been able to open. It was in a precarious situation. Both the Camp Nou and the Ciudad Deportiva”
“We have found a negative equity. If it were a public limited company, it would be a cause of dissolution. We found zero operating cash flows so we had difficulty paying the salaries. The debt and future commitments were 1,350 million euros per what we had to do an urgent refinancing “.
“We have found signs that have forced us to dig deeper. We have had to do a forensic in Espai Bara, in the Purchasing department and in commissions. Here we look for evidence of evidence. If something is found, it goes to the Legal department. This forensic still It’s not over. We’ll do it in the next few weeks. “
“This is an exercise in transparency. It was a commitment by Joan Laporta when she came to power. Many of you would have thought that this due diligence has taken a long time to do. The reason, it has been quite difficult to find documentation. In recent years, when people club room, after 90 days all documents were erased. Also, they did not use club laptops, but personal ones. On the other hand, emails were sent, but they were diverted to personal emails “
The act begins. Ferran Reverter is out
Joan Laporta lift the rug. As soon as he came to power, the president announced that he would carry out an audit to find out in detail how the club was, what was the inheritance received. That investigation, known as due diligence, it has taken months to carry out. Today the results will be announced, although the club already anticipated that they are worrying.
The economic vice president, Eduard Romeu, I pointed in the past Assembly of Compromisarios that “there are things that are science fiction.” Today we will know what he meant. Get ready, because tomorrow promises.
The person in charge of presenting it will be Ferran Reverter, general director of the Barcelona entity. In addition to due diligence, explain the close of fiscal year 20-21 and the budget for fiscal year 21-22.