FC Barcelona financial crisis worse than initially thought

The new club president and his board have inherited a massive problem.

Much has been said about FC Barcelona's financial crisis in recent months. However, a fresh audit has revealed to the new board that they have a monumental task ahead of them if they want to turn the situation around in the fastest time possible.

One thing is clear, the situation is worse than initially thought. Club members who are hoping for positive changes in the upcoming transfer window may be up for a disappointment.

Newly-elected club president Joan Laporta and his new board have carried out an audit to analyse the mess that they have inherited from Josep Maria Bartomeu and his team. The continuing losses brought about by the novel coronavirus pandemic has also compounded the problem.

According to Marca, the club will need to tighten its belt in the coming months, and thinking about turning any profit will not be in the horizon sooner than the 2022-23 season.

This season alone, the Catalan giants are expected to lose somewhere in the vicinity of 350 million euros. Next season will likely be just as bad. Of course, some financial wiggle room can be freed up if Lionel Messi decides to leave. As the club's highest paid player, he takes up a large chunk of the budget. His departure could mean that the club can have more options in the upcoming transfer window.

On the other hand, if it is true that the club is signing Messi's close friend Sergio Aguero to convince him to stay, it will likely be for a considerable amount as well. It may seem like a counter-intuitive move, but merchandise sales alone for the two Argentines may bring in a considerable amount of cash. Sponsors will also be more keen to invest with big names in the roster, and if they produce great results, those will also translate to more profits. It all just depends if that is the gamble that the current board will choose to take in an attempt to get out of the red.

Barcelona's new CEO, Ferran Reverter, has been on top of the situation, and it is believed that he is already deep into discussions with the new board. They now have to plan their next moves carefully if they wish to effectively orchestrate a financial recovery.