Barça facing new elections if Laporta fails to raise €124M
Wednesday is the deadline for the new FC Barcelona president to raise the 124 million euro financial guarantee in order to be able to take over the club.
More tense times at FC Barcelona as president elect Joan Laporta faces a race against the clock to secure the required financial deposit of 124,6 million euro which equates to 15% of the club's budget. Failure to raise the amount by Wednesday's deadline would see the club being forced to stage another presidential election. Speaking to GolTV on Tuesday afternoon, a flustered Laporta upon being asked about the sum of money, replied: "Yes, yes, it's under control", but as yet, the LaLiga office in Madrid has yet to recive the transfer.
Sunday's decision by Jaume Giró not to take the financial director role offered by Laporta has cut off the financial injection that was in the pipeline. The former general manager of powerful banking institution La Caixa decided against joining the football club and this has cornered Laporta with the new president now in negotiation with the other Catalan financial powerhouse Banc Sabadell.
Race against the clock for Laporta
Reports suggest that Laporta's team have covered 50 million euro of the 124 required with Laporta also reaching out to US based investment fund HPS Partners but their involvement has been put on hold after renewable energy company Audax entered into a negotiation process with Laporta's team. Audax president José Elías however would not be able to take a place on the board as he fails the 'socio' longevity test which would see his right hand man Eduard Romeu take a place as a new member of the executive committee in a financial capacity.
Catalan sports daily El Mundo Deportivo report that talks between both sides have reached stalemate late last night as Laporta continues his struggle to raise the remaining part of the financial guarantee with failure to do so seeing FC Barcelona socios once again having to go to the polls.