UPDATE 1-Soccer-Barca can escape financial hole in 18 months, president says

[ASFN Admin]

FC Barcelona can reverse their poor financial situation within a year and a half, president Joan Laporta told a news conference on Monday, after saying the club ended last year 451 million euros ($531 million) in the red. With their finances in dire straits after years of wage inflation and expensive transfers, the club could not afford to renew its contract with star striker Lionel Messi, leading to his shock departure to Paris St Germain last week. Still, Laporta said he was optimistic for the future, stressing that the club had many options open to it, including some 17 investors interested in Barca Studios, which groups together the club's audiovisual businesses and serves as a hub for events.

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