The board of directors of Joan Laporta , elected by the partners on Sunday, March 7 has as a limit this Wednesday to present the endorsement of $ 150 million dollars to La Liga and although the candidacy assumes that it will be done, the truth is that The process was complicated for the Catalan businessman.
This guarantee, which represents the 15% of the budget of the Barça club, it is mandatory for the boards of directors of the four sports associations non-profit organizations that compete in LaLiga: Barcelona, Real Madrid, Athletic Club and Osasuna.
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💥According to the Statutes, if Laporta did not have that guarantee tomorrow Wednesday, another Commission Manager would take over the management of the club and call new elections https://t.co/0Ut2l4mqe0
– SPORT Daily (@sport) March 16, 2021
The problems to achieve it began with the resignation of Jaume Giró, who was considered to be the economic vice president of the team , a person with vast experience in banking and financial matters that -in addition- has the connections to refinance the club’s immense debt and also with a personal fortune very significant.
Because the new board of directors could only raise $ 50 millions in personal resources to add to the endorsement, Laporta needs to get the others 100 whatever and as soon as possible.
The days ten days expire on Wednesday 17 March and if the guarantee is not presented or is not approved for the League, Laporta would be left out and a new Management Commission would be in charge of assuming the management of the club and start the process of calling for elections again.