Barcelona's debt has grown by more than €600 million in just four years

The evolution of debt is one of the ways to best explain Barcelona's delicate financial situation. Speaking as he gave the results of the Due Diligence process on Wednesday, CEO Ferran Reverter said that between the 2016-17 season and March 2021, when Joan Laporta replaced Josep Maria Bartomeu, the club's debt has grown from €8m to €673 million.

A difference of almost €700m in just four years. The debt has specifically spiralled since June 30 2018, rising €514m in that period until March 2021, from €158m to €673m.

Reverter explained: "From June 2018 to March 2021, the club’s net financial debt increased by 514 million (from 159 in June 2018 to 673 million in March 2021), due to the net investment made in the purchase and sale of players, amounting to 306 million; in the work on Espai Barça, for a cost of 92 million; other investments in operating assets, amounting to 45 million; and the increase in financial costs, for a total of 71 million.

"The club has not been able to generate a positive operating flow throughout these three years, and therefore all other sections have had to be paid by increasing the third party debt.

"This increase in debt has been made without requesting authorisation from the General Assembly of Members, for various amounts below the statutory limit. Moreover, the club’s financial situation, both in June 2020 and in March 2021, has meant non-compliance with liabilities with banks and the ratios required by financial institutions, La Liga, UEFA and the club’s own statutes."