""The reflection of levers as a capital increase is the defence argument we made to UEFA for non-compliance with fair play," he began. "We lowered a fine from €80 million to €60 million, and then to €15 million without a sports sanction. At first, they wanted to leave us without the UEFA Champions League.""
""The levers were intended to prevent an extraordinary outflow of members and alleviate the situation we found ourselves in four and a half years ago," he said."
""Strictly speaking, leverage is not a capital increase. It is"
Barcelona entered deep debt under Josep Maria Bartomeu and have implemented economic levers, contract renegotiations and transfer strategies to stabilize finances while pursuing a 1:1 financial ratio. La Liga regulation enforcement and player registration constraints complicated recovery. Negotiations with UEFA prevented a sporting ban after the club treated several levers as reflections of capital increase to justify non-compliance with fair play. UEFA reduced a proposed fine from €80m to €60m and then to €15m without imposing a Champions League suspension. Club leadership defended the levers as measures to stop member outflow and to alleviate the inherited financial crisis.
Read at Barca Universal
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