Joan Laporta reaches agreement with Sabadell Bank; to be sworn in as Barcelona president soon

Barcelona president Joan Laporta has reached an agreement with Sabadell Bank to help finance the club during this difficult financial climate. Moreover, the newly re-elected candidate is set to be sworn in as the president either tomorrow or the day after. 

There were doubts as to whether Laporta would be able to produce 15% of the budget that would be required for the swearing in of the new Barcelona board, which amounts to €125 million. The situation surrounding the finances took an anxious turn when Jaume Giro, the vice President of the finances at Barcelona resigned over a dispute in the lawyer’s role at the club. 

However, those doubts will be answered now that the financing guarantee has been agreed on. 

Laporta received almost double the number of votes that his competitor, Victor Font received in the election while Toni Freixa finished third and last in the count for the number of votes cast in favour of the candidates. 

The new President has a number of important decisions to make for the future of the club. The sporting project in place at Barcelona being the first and foremost plan that demands the President’s attention. Once that is sorted out, the contract situation surrounding Lionel Messi and Ousmane Dembele will have to be dealt with. 

Irrespective of the outcome of the two important contract talks, Barcelona will then have to look to the summer for recruitment. And that is when the president’s consent in terms of the arrival of Eric Garcia from Manchester City, and other potential targets will become important.