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SBD Global/August 28, 2014/Franchises

Barcelona Moving Ahead With Corporate Liability Action Against Former Club President

Barcelona's club management "decided to go ahead with the Corporate Liability Action proceedings" against former President Joan Laporta and 16 former execs on Monday "following a tense meeting that lasted over six hours," according to Luis F. Rojo of MARCA. The length of the debate "highlights the fact that this is an issue over which the Board of directors is clearly divided." One faction was "in favour of withdrawing the action, having contacted the parties involved through their lawyers to discuss the possibility of reaching an agreement." These talks were well underway and "15 of the 17 parties were, in principle, willing to accept the terms proposed." Only Joan Laporta and Sala Martín "opposed the agreement, although at the last minute, the resolve of some of the 15 former directors was beginning to fade." Those affected would basically "commit to publicly admitting that the Board had acted properly" in '10 on submitting the proposal to file this Liability Action to the Assembly, after an "external audit valued the losses incurred by the club over the years Laporta was president" at €48.7M. In return, the Board would "commit to ask the judge to postpone the trial date," set for Sept. 15, to "go to the October Delegates' Assembly with the proposal of withdrawing the action, putting the decision to the vote" (MARCA, 8/27).
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