Laporta set to lose his presidential seat; repeat election possible

Laporta set to lose his presidential seat; repeat election possible

Joan Laporta needs to hurry up to assure he can perform his presidential duties.

Joan Laporta and his team still haven't presented La Liga the required €124.6m to take office, as per ARA.

The whole operation is getting 'more complicated than expected' as Laporta has only allocated about €50m while the deadline is on Wednesday.

Laporta is said to have reached an agreement with Audax Renovables company, the owner of which is his current vice-president for financial affairs Eduard Romeu.

However, Laporta is afraid that this agreement would mortgage his board and Romeu would be given excessive powers at Barcelona.

Laporta has two alternatives to Audax Renovables: the first one is North American investment fund HPS Partners; the second option is to expand the current board by inviting 5 new directors who weren't part of Laporta's initial team.

The decision must be taken quickly; if Laporta doesn't manage to guarantee the needed fee on Wednesday, the club are likely to hold another election.

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