Joan Laporta: Take the money and run

Joan Laporta faces a stressful few hours as he must find 125 million euros by Wednesday in order to confirm his status as Barcelona president, or face the prospect of new elections.

Everything seemed on the right path until Jaume Giro, in charge of the campaign’s finances, resigned on Saturday.

Now, Laporta must look to various financial backers, mainly Banco Sabadell, to guarantee his presidency.

Time is running out to provide proof of funds, but sources close to the new president suggest he is confident of making the deadline.

The potential problem is that one of the possible backers is a company from the US, Audax Renovables, who may be looking for some control in exchange for guaranteeing 75 million euros.

This would mean the new board losing power before even officially taking over.

Source of the article

Author: XenBet

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