Barcelona face yet another setback as its financial vice president, Eduard Romeu, has tendered his resignation.
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Romeu resigns from Barcelona The departure leaves a void in Barcelona's leadershipClub struggling with severe financial challengesGettyWHAT HAPPENED?
Romeu's resignation, confirmed by a Barcelona statement released on Thursday morning, cited "incompatibility with full dedication to his professional work" as the reason for his departure. However, sources close to Romeu, speaking anonymously, revealed to that Barcelona's deep-rooted financial problems played a significant role in his decision to step down.
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Speaking to reporters, Romeu said: "The enemy is outside the club. When we started this it seemed that nobody could save it, but the courage that Laporta has given us has allowed us to fight.
"To see a great Barcelona, we still need to make complex decisions. But there is still that final point that we must reach and we will follow our path with the same strength.”
However, Barcelona President, Joan Laporta remains optimistic that the existing economic team would continue his work.
“Eduard’s functions can continue to be carried out by the economic team. Romeu leaves a great team that is capable of continuing his work," he said.
“He has been key in the economic work of the club and we will continue to follow his advice. He leaves an economic area department who are prepared to continue his work.”
THE BIGGER PICTURE
The financial woes at Barcelona have been exacerbated by a €30 million budget shortfall for the current season which is attributed to lower-than-expected matchday revenues. Moreover, La Liga's decision to reduce Barcelona's salary cap to €204 million further complicates matters, marking a substantial €66 million reduction from the previous cap.
With Barcelona's real squad cost for the season officially budgeted at €492 million, the club faces pressure to make cuts to adhere to La Liga regulations. This may necessitate the sale of key first-team players to alleviate the burden of the club's historic debts, which exceed €1 billion.
DID YOU KNOW?
Barcelona's efforts to navigate these financial challenges have been met with difficulties, as traditional strategies such as leveraging economic 'levers' face constraints imposed by evolving La Liga regulations. Despite significant cost-cutting measures, including the departure of several high-profile executives over the past year, including sporting director Jordi Cruyff and director of football Mateu Alemany, the club continues to grapple with financial challenges.