A few days ago, an interview with Jorge Alcover, CEO of Goldman Sachs, generated considerable debate. The main message he conveyed to Everything costs money. The report from Catalunya Ràdio was reassuring: according to the bank, the financing agreement with Barça does not jeopardize the club's ownership or its membership model. Formally, this is true. But focusing the debate solely on ownership is only scratching the surface of the problem.

The summer of 2021 will go down as one of the darkest periods in FC Barcelona's recent financial history. After years of mismanagement, from a fatal inheritance –accompanied by a severe impact of the pandemic on revenues– and the arrival of a new board, which took advantage, as is customary in these changes of government, to depreciate and provide for the maximum possible contingencies, the entity presented a negative equity of more than 481 million euros. The worst balance sheet in its history. And the problem was twofold: the severe economic crisis was combined with the impossibility of competing sportingly due to the devaluation of the sports staff accompanied by the restrictions imposed by the fair play The Spanish League's financial advisor.