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03/12 12:24 CDT FC Barcelona's 100,000-plus members vote for president with
club buried under a mountain of debt
FC Barcelona's 100,000-plus members vote for president with club buried under a
mountain of debt
By JOSEPH WILSON
Associated Press
BARCELONA, Spain (AP) --- The small auditorium in a working-class neighborhood
of Barcelona is packed with people listening to a middle-aged man in a suit
tell them why he deserves their vote. There are campaign posters, a jingle
blaring over loudspeakers, television cameras, lots of handshakes and selfies,
and, of course, a stump speech full of pledges as well as barbs for the rival
candidate.
But this is not about deciding the next mayor or filling a seat in a national
legislature.
This election campaign is to determine who will earn the job of running FC
Barcelona during one of its most turbulent periods as it struggles to emerge
from a mountain of debt.
Bara (pronounced "Barsa" in English) is proud of its slogan of being "more
than a club" for its attractive soccer, its connection with Catalan culture,
and backing humanitarian causes.
But what really makes Bara stand out from other globally followed sports teams
is that it is owned by 114,000 due-paying club members, not a billionaire or
energy-rich Middle Eastern state like those which control Manchester City and
Paris Saint-Germain.
Those Bara club members have been called to cast votes on Sunday in Barcelona
and three other cities in northeastern Spain, as well as neighboring Andorra,
to pick the club's next president and executive board.
"I really like the elections. It makes me feel part of the club. My father was
a Bara supporter since I was a little girl. I've lived and loved Bara since I
was little," 96-year-old Rosa Capdevila, cane in hand, said at a recent event
held by incumbent Joan Laporta.
Many voters, however, believe their choice of president, who also acts as the
CEO, will prove crucial to the future of Bara's rare ownership model, which is
threatened by the highest debt burden of any soccer club in the world, a
staggering 2 billion euros ($2.3 billion).
Real Madrid is also member-owned and Florentino Prez has presided over the
club for all but three years of this century without any serious opposition.
More comparable to Bara's democratic model are fellow Spanish clubs Athletic
Bilbao and Osasuna, and Portuguese majors Benfica, Porto and Sporting Lisbon,
which have leadership elections while not holding the same rank as Bara does
as an elite soccer club.
Voters' views are key The election will hinge on voters' views of how Laporta ran the club for the last five years under considerable financial strain. Laporta successfully presided over Bara from 2003-10 during the glory years of coach Pep Guardiola and a young Lionel Messi, and returned to the office in 2021. He inherited some 1.3 billion euros ($1.5 billion) in debt due to the lavish spending of his predecessor and the impact on revenues from the COVID-19 pandemic. Laporta, 63, has repeatedly said the club was ruined when he came back and it was a "miracle" it was still in the hands of club members, instead of having been sold off to third-party investors, a move that club members consider anathema. But many members are critical of Laporta's decision to sell some club assets in moves he dubbed "financial levers," including selling 25% of its Spanish league TV rights for the next 25 years, to generate quick cash for immediate needs and to sign new players. Laporta's push to finance a long-overdue renovation of Camp Nou, the largest soccer stadium in Europe, has only bloated the debt amount even further. "These elections are very important because Bara is highly indebted," club member Josep Maria Carbonell said at another campaign event. "So we need new blood to help put the club's finances in order, because if it is economically sound the rest will follow."
Only one rival in election Vctor Font is Laporta's only rival in the election after other possible candidates dropped out for lack of support. Font, a local businessman, lost to Laporta in 2021 and has been preparing for a rematch ever since. Font told The AP that he fears that Laporta will end up inviting in a big-time investor to become an owner, thus destroying its members-owned model. Font envisions Laporta "asking to sell some 10% to an investment fund, so we can sort out our financial problems and perhaps buy a great player." "That risk is real. That is why it is so important to make a change in these elections," he said. Prez announced last year that Real Madrid is considering allowing outside investors to buy a stake of up to 10% in the club. Laporta vehemently denies he is thinking of the same move. Among his campaign pledges is the promise to reform the club statutes to include a requirement that any sale of the club, even partial, would have to be approved by members in a referendum. He argues that a new-look Camp Nou with more seating and other sources of income will boost revenues, thus making economic sense in the long term. He also defends his financial management by highlighting the club has lowered its spending on player wages and boosted its merchandise sales. Barcelona generated the second-highest club revenue in world soccer last season, some 974 million euros, behind only Real Madrid, according to Deloitte's yearly Money League survey.
After Messi, Bara has Yamal Laporta's detractors point to his record of promises that didn't pan out. In his first campaign back in 2003, Laporta promised to bring a still-young David Beckham from Manchester United, only for the English star to choose Real Madrid. Then in 2021 Laporta said he would find a way to keep Lionel Messi, but once elected he said the club couldn't afford to keep its superstar. In Laporta's favor come Sunday are the trophies the team has won in recent years, including last season's La Liga and Copa del Rey and the multiple successes of its women's team, along with the discovery of a new star player in Lamine Yamal. Over the past month Laporta has held 30 rallies or media events while touring Catalonia in a bus that is plastered with his name and the slogan, "We defend Bara." He is asking voters to let him finish the job he started "to save Bara," while warning that Font lacks a deep sentimental connection to the club. "We cannot leave Bara in the hands of a technocrat who understands Bara looking at his computer," Laporta said about Font. "He hasn't got Bara in his head or in his heart." ___ AP video journalist Hernn Muoz contributed to this report. ___ AP soccer: https://apnews.com/hub/soccer
Voters' views are key The election will hinge on voters' views of how Laporta ran the club for the last five years under considerable financial strain. Laporta successfully presided over Bara from 2003-10 during the glory years of coach Pep Guardiola and a young Lionel Messi, and returned to the office in 2021. He inherited some 1.3 billion euros ($1.5 billion) in debt due to the lavish spending of his predecessor and the impact on revenues from the COVID-19 pandemic. Laporta, 63, has repeatedly said the club was ruined when he came back and it was a "miracle" it was still in the hands of club members, instead of having been sold off to third-party investors, a move that club members consider anathema. But many members are critical of Laporta's decision to sell some club assets in moves he dubbed "financial levers," including selling 25% of its Spanish league TV rights for the next 25 years, to generate quick cash for immediate needs and to sign new players. Laporta's push to finance a long-overdue renovation of Camp Nou, the largest soccer stadium in Europe, has only bloated the debt amount even further. "These elections are very important because Bara is highly indebted," club member Josep Maria Carbonell said at another campaign event. "So we need new blood to help put the club's finances in order, because if it is economically sound the rest will follow."
Only one rival in election Vctor Font is Laporta's only rival in the election after other possible candidates dropped out for lack of support. Font, a local businessman, lost to Laporta in 2021 and has been preparing for a rematch ever since. Font told The AP that he fears that Laporta will end up inviting in a big-time investor to become an owner, thus destroying its members-owned model. Font envisions Laporta "asking to sell some 10% to an investment fund, so we can sort out our financial problems and perhaps buy a great player." "That risk is real. That is why it is so important to make a change in these elections," he said. Prez announced last year that Real Madrid is considering allowing outside investors to buy a stake of up to 10% in the club. Laporta vehemently denies he is thinking of the same move. Among his campaign pledges is the promise to reform the club statutes to include a requirement that any sale of the club, even partial, would have to be approved by members in a referendum. He argues that a new-look Camp Nou with more seating and other sources of income will boost revenues, thus making economic sense in the long term. He also defends his financial management by highlighting the club has lowered its spending on player wages and boosted its merchandise sales. Barcelona generated the second-highest club revenue in world soccer last season, some 974 million euros, behind only Real Madrid, according to Deloitte's yearly Money League survey.
After Messi, Bara has Yamal Laporta's detractors point to his record of promises that didn't pan out. In his first campaign back in 2003, Laporta promised to bring a still-young David Beckham from Manchester United, only for the English star to choose Real Madrid. Then in 2021 Laporta said he would find a way to keep Lionel Messi, but once elected he said the club couldn't afford to keep its superstar. In Laporta's favor come Sunday are the trophies the team has won in recent years, including last season's La Liga and Copa del Rey and the multiple successes of its women's team, along with the discovery of a new star player in Lamine Yamal. Over the past month Laporta has held 30 rallies or media events while touring Catalonia in a bus that is plastered with his name and the slogan, "We defend Bara." He is asking voters to let him finish the job he started "to save Bara," while warning that Font lacks a deep sentimental connection to the club. "We cannot leave Bara in the hands of a technocrat who understands Bara looking at his computer," Laporta said about Font. "He hasn't got Bara in his head or in his heart." ___ AP video journalist Hernn Muoz contributed to this report. ___ AP soccer: https://apnews.com/hub/soccer
