Barcelona president-elect Joan Laporta must secure £107m bank loan in 24hours or face new election

Barcelona president-elect Joan Laporta is in ‘a race against the clock to secure £107m bank loan or Spanish giants will be forced to call a SECOND election process’

Barcelona’s president-in-waiting Joan Laporta is facing a race against the clock to secure a £107million guarantee from the banks, or else another election will have to be called.

Laporta has less than 24 hours remaining to tie up the loose financial ends or else the process will begin once again, despite the 58-year-old winning the election earlier this month.

That is according to ESPN, who report that to take office, Laporta and his executive board must first present a bank guarantee worth 15 per cent of Barca’s budget within 10 days of being elected.  

Barcelona president-elect Joan Laporta must secure £107m bank loan in 24hours or face new election

Joan Laporta is facing a race against the clock to secure a £107million bank guarantee

Wednesday marks the deadline for Laporta to come up with the guarantee, which must also be ratified by LaLiga, in order to receive official approval.

Laporta entered the election as hot favourite to win, up against Victor Font and Toni Freixa, and received the vote of club talisman Lionel Messi.

Barca’s club statutes dictate that incoming presidents should be ‘equally liable for [the total amount] unless individual or internal agreements are made between the members of the board for a different distribution of liabilities.’

Barcelona president-elect Joan Laporta must secure £107m bank loan in 24hours or face new election

Laporta won with a huge majority and is set to return to the club where he brought success

Laporta returns to the club at which he oversaw a period of great success throughout the Pep Guardiola era, when Barca were regarded as the most formidable team on the planet and won every trophy available to them.

Laporta’s campaign appeared well on track this week until reports emerged that one of his vice presidents, Jaume Giro, would no longer form part of his team.

Publically Giro has cited frequent work commitments in London as a reason he could not join forces with Laporta, but speculation has mounted regarding a possible rift between the pair. 

A huge vote-driver for Laporta’s campaign came in the form of his pledge to keep superstar Messi at the club.

The Argentine was widely expected to leave at the end of the season and join either Paris Saint Germain or Manchester City on a free transfer, though Laporta’s winning of the election means he is now likely to stay at the Nou Camp. 

Former Barca star Xavi has also revealed he is in regular contact with Laporta, with the duo expected to link up in future when the World Cup winner is brought back to the Nou Camp in a managerial capacity. 

Barcelona president-elect Joan Laporta must secure £107m bank loan in 24hours or face new election

Barcelona president-elect Joan Laporta must secure £107m bank loan in 24hours or face new election

Xavi (left) has revealed he remains ‘in contact’ with new Barcelona president Joan Laporta

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