Bar?a's statutes indicate that if a board have loses for two consecutive years, they are force to resign.
Joan Laporta
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Bar?a's statutes indicate that if a board have loses for two consecutive years, they are force to resign.
Luftstalag14
Culé de Celestial Empire
So they either resign, or cover the losses with their own money? Is the latter even an option?
Article 67 Net worth balance
The Board of Directors is obliged to maintain the Club?s net assets, and in this regard must make the best effort to manage them as will be reflected in the formulation of the annual audited accounts without exceptions, showing a positive net worth balance after tax. If, despite this regulation, the liquidation of a financial year should show losses approved by the General Assembly, the Board of Directors must compensate for the amount lost in its operating results for the following two years.
Likewise, the Board of Directors must make the best effort to manage the Club with a net debt that is never greater than the amount resulting from multiplying by two the EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). Despite this regulation, if the debt ratio is higher as a result of the liquidation of a previous financial year that is accepted by the General Assembly, the Board of Directors is obliged to re-establish the net worth balance in the following two financial years to achieve the aforesaid debt ratio. Compliance with this ratio must be expressly certified in the Club?s annual audit report.
If there is a change of Board of Directors during a process of establishing the net worth balance in any of the aforesaid circumstances, the new Board of Directors that has come into power will be bound for all purposes as long as the President formed part of the departing Board of Directors that was affected by the situation.
Manifest failure to comply with either of the two regulations stipulated in this article due to two financial years having passed since the one in which the non-compliance first occurred, without the net worth balance having been achieved, in either of the two circumstances, shall be cause for the immediate and advance dissolution of the Board of Directors, which will be replaced by a Managing Commission, whose composition, functions and competences shall be those described in article 35.4.
In order to calculate the net worth balance referred to in this article with respect to overall debt, sections corresponding to the finance of extraordinary investment projects in material property to be used for the Club?s sporting and ordinary activities shall not be included, for these will be the object a specific and independent finance plan.
https://www.fcbarcelona.com/fcbarce...6f9-af8f-ff8a1c555242/Estatuts-102018-ENG.pdf
Luftstalag14
Culé de Celestial Empire
Thanks, I am like
reading this mumbo jumbo. In layman's terms, they either have to compensate for the losses or resign, right? Why didn't Bartomeu & Co. resign because of the net debt by the way? It wasn't that bad that reached the threshold to resign or something?
khaled_a_d
Senior Member
No, they will have another year. The last year belongs to previous boards
Nazario1985
Senior Member
We all know no one of them will compensate shit from their pockets.
When it comes to personal money they are all friends playing by the same 'rules'.
If I recall Perez did it many times not in an explicit manner, but as he is the eternal president he gets his money back ez time.
When it comes to personal money they are all friends playing by the same 'rules'.
If I recall Perez did it many times not in an explicit manner, but as he is the eternal president he gets his money back ez time.
Messigician
Senior Member
Barcelona remain confident that Memphis and Garc?a will be registered before tomorrow's league opener against Real Sociedad. [cope]
Ban the words confident from this forum i beg
Ban the words confident from this forum i beg
Signings are registered:
https://www.fcbarcelona.com/en/foot...c-garcia-and-rey-manaj-registered-for-la-liga
Maybe people can give Laporta a bit more leeway now.
https://www.fcbarcelona.com/en/foot...c-garcia-and-rey-manaj-registered-for-la-liga
Maybe people can give Laporta a bit more leeway now.
Mitchell1978
Senior Member
So one or 2 players lower their salary and the new 'signings' can be registered but resigning Messi was impossible?
Doesn't ad up.
Doesn't ad up.
No.
Thanks to Messi, Konrad, Monchu, Alena, Todibo, Firpo, Trincao, Matheus, Akieme, Miranda leaving and Pique lowering his wages we can register Memphis, Eric, Emerson and Manaj.
Messigician
Senior Member
Hes a clown Barto destroyed him in his letter
Mitchell1978
Senior Member
Not buying it, Laporta and his board prefered to let Messi leave.
malvolio
Senior Member
Of course he wanted him to leave, otherwise they would have presented a counter offer or negotiated with Messi.
Hopefully his bet pays out. But the way he did it was disgraceful
JamDav1982
Senior Member
Not sure he wanted him to leave but think he realised long before the club announced it that they couldnt renew him in August.
Still no makes sense from both sides why they did not push to renew it before expired.
Personally think neither side really believed he was going to extend or stay.
neo_wolf
Member
Im convinced now that they just wanted messi to leave.
It was said a few days ago that without Messi it was at 95%, there is no way that it went down by 25% by Pique lowering his wages, even if Pique played for free that wouldnt be possible.
Either Tebas let it happen or Laporta's 95% was BS and it was more like 75%.
It was said a few days ago that without Messi it was at 95%, there is no way that it went down by 25% by Pique lowering his wages, even if Pique played for free that wouldnt be possible.
Either Tebas let it happen or Laporta's 95% was BS and it was more like 75%.
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