Barcelona suffer further financial setback with big fine

A Spanish court’s decision has further complicated Barcelona’s financial predicament. The once-great Spanish team is now hardly recognizable as the winners they once were. The administration of previous president Josep Bartomeu inflicted severe damage to their authority both on and off the pitch.

In the last year, Barcelona stabilized finances by selling players to raise capital and stabilize their financial situation. They activated several new financial levers. Also, broadcast contracts have helped relieve some of the pressure on club president Joan Laporta.

Now, the club’s already precarious financial position has taken a further nosedive after another $25 million fine. The Blaugrana had previously disputed the claims, but it seems that Spain’s National Court has upheld the sentence.

The ruling settles overpayments of taxes on player agent fees between 2012 and 2015, forming part of a settlement. After the Central Economic-Administrative Court announced its decision in June 2020, Barca decided to appeal it, as per Mundo Deportivo.

The club paid $9.45 million in taxes and $3.27 million in penalties for 2012. They also had to settle $4.7 million for 2013, $5.6 million for 2014, and $1.52 million for 2015. But most importantly, the Blaugrana are under no need to pay up as of now while the procedure continues.

What did Spanish court say?

According to the TEAC, “from the facts found by the Inspectorate, it appears that the payments made by the Club have been made in the name and on behalf of the players who are the actual recipients of the services provided by the agents. They also added that the agents “are providing a service commissioned by the Club or are representing the Club”.

Joan Laporta was entrusted with saving Barcelona from a financial perspective

“This is not proven in any way and the reality reflected in the documents in the file is contrary to these circumstances, since the agents represent the players and act…

Source link : https://worldsoccertalk.com/news/barcelona-suffer-further-financial-setback-with-big-fine-20240210-WST-488858.html

Author : Martina Alcheva

Publish date : 2024-02-10 15:04:13

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