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Barcelona might hold another presidential election

Tue 16 March 2021 | 13:55

Joan Laporta has not been able to present his guaranteed investment for the club as the new president as he is currently €70 million short.

According to

El Periodico



’s newly elected president

Joan Laporta

has not yet made his required depository payment.

Laporta is obliged to present his guaranteed investment of €124.6 million as the club’s statutes declare that any president must present a guarantee of 15 percent of the club’s budget before he is officially made president.

A new presidential election would be held if he failed to make the deposit before the deadline which is 10 days after his election.

The report says that the renewable energy company Audax Renovables – based in the Catalan capital – had an agreement with Laporta’s election but on Monday, that agreement was broken and Laporta is now €70 million short.

The founder of Audax José Elías Navarro has said that he can not fund the club and they can only assist them at a managerial and experience level.

However, it seems that Laporta is going to lodge the payment by taking out a loan and accumulating more debt.

source: SportMob