Barcelona keeping Lionel Messi would have put the club at great risk according to Joan Laporta, who criticised both the previous regime and also LaLiga in a powerful media conference.
The Spanish club sensationally announced on Thursday that Messi would not be continuing at Camp Nou, despite agreeing terms on a new contract.
A short statement revealed how "financial and structural obstacles" made a deal impossible, despite an injection of funds stemming from the league signing an investment and revenue-sharing deal with CVC Capital Partners, who will hold a 10 per cent stake.
Barca joined rivals Real Madrid in denouncing the plan, with Laporta unwilling to mortgage the long-term future of the club by accepting the restructure, even if that meant ruling out retaining Messi.
The club's president also discussed how the Josep Maria Bartomeu regime had created serious financial problems, even greater than he initially thought following a thorough audit.
"We don't have any margin. We knew that when we got to the club, but the numbers that were presented to us after the first audit, and our analysis, those numbers are a lot worse than those exposed initially, which are what we are working with now," Laporta said in his opening statement to the media on Friday.
"That means that the losses are a lot more elevated than expected, we are spending a lot more than we expected and the current contracts mean that we have this salary of great magnitude, allowing us no margin.
"This is all tied to fair play, the financial fair play in LaLiga meant we couldn't fit in the first contract we had agreed to with Lionel Messi.
"In order to have that fair play, Barca had to agree to an operation that would affect the club for the next 50 years, in terms of television rights [the CVC deal].
"That has meant that as I've had to make a decision, I can't make one to affect the club for the next 50 years, the club is over 100 years old, it's above everyone, everything – even the best player in the world, the best player who has been with us for years, and we will always thank him for what he's done for us."
Laporta made clear that Messi had wanted to remain with Barcelona, with reports suggesting the Argentina superstar was willing to take a 50 per cent pay cut.
However, LaLiga president Javier Tebas made clear in recent weeks that the governing body would not relax financial rules just to keep the competition's biggest name.
"The reasons why we have decided to get to this point of negotiations is that there are objective reasons regarding the economical situation of the club," Laporta continued.
"An investment of that volume with the contract of Messi was risky. We wanted to assume those risks, but when we have realised the real situation at the club after the audit, it means that we would have put the club at great risk.
"The salary has a great deal to do with that, after a calamitous situation that was down to the previous board of administrators. If we terminate the current contacts, that also has risks, the only way to have that salary margin right now, was to accept that operation. We can go into details, but it’s an operation that puts at risk the club for the next 50 years.
"We understand we can't do that. Leo wanted to stay at Barca, we wanted him to stay, the fact he wanted to stay was the first step that was made. That was a key factor - he wanted to stay."
Messi's future is unclear as the major European leagues all prepare for the start of a new season. A move to Manchester City was strongly rumoured a year ago when the 34-year-old pushed to leave, though it is unclear if the Premier League champions retain any interest in a deal at this time.
Paris Saint-Germain are the early favourites, with Laporta making clear negotiations are over with Barca as he looks to do what is best for the club in their current circumstances.
"I want to thank everyone who has been in the negotiations during the past few months, with all the little intricacies, there were a lot of aspects to be negotiated as well," Laporta said in closing.
"It needed to be compatible with fair play, be of a certain duration, and after all of this, there comes a moment when you need to say enough.
"You need to analyse it rigorously with a cold head and look at the numbers. In LaLiga, we have to abide by the rules, we feel they could be more flexible but that’s not an excuse. We knew we couldn’t abide by it due to the situation.
"Leo deserves everything – he has proven that he loves Barca, he has his roots here.
"I'm sad, but I'm convinced we've done the best for the club."
Hurtig the hero after late goal sends Arsenal into Champions League quarters
Lina Hurtig's 89th minute winner ensured Arsenal progressed to the quarter-finals of the Women's Champions League after edging Juventus 1-0 on Thursday.
After being frustrated for large parts of the encounter, Hurtig bundled home from close range after Martina Lenzini's poor clearance to book the Gunners' place in the last eight.
Despite Arsenal dominating the early exchanges, it was Juventus who had the first sight of goal, though Eva Schatzer's effort was easy for Daphne van Domselaar to gather.
In a first half that saw just two shots on target, both coming from the visitors, Renee Slegers' substitutes proved to be the difference for Arsenal.
Slegers introduced Beth Mead, Stina Blackstenius and Hurtig late on, with the latter somehow putting Kim Little's cross over the bar from five yards out.
However, the Swede would atone for her earlier error, combining with fellow substitute Blackstenius to net against her former club and send them out of the competition with two group games remaining.
Meanwhile, in Group D, Barcelona edged closer to the quarter-finals of the competition with a convincing 4-1 victory over St. Polten at the Generali Arena.
The reigning champions are still three points behind Manchester City following their 2-1 win over Hammarby, and know a win against the Swedes next month will see them progress.
Kika Nazareth opened the scoring in the 20th minute after capitalising on a mistake by Kamila Dubcova, notching her second nine minutes later from close range.
Barca found themselves three goals up at the break when Vicky Lopez netted her first goal in the competition to put the result beyond doubt.
There was also a landmark moment for Alexia Putellas, who netted her 200th goal for the club with a well-taken effort into the far corner.
Valentina Madl took some of the shine off an otherwise impressive display from the visitors, who have now taken their tally to 20 goals from their four matches in the competition.
Guardiola agrees two-year contract extension with Man City
Pep Guardiola will be Manchester City manager for at least two more seasons after 2024-25, after he signed a two-year contract extension on Thursday.
The 53-year-old was coming to the end of his City deal, which was due to expire at the end of the current campaign, but he has opted to remain at the Etihad Stadium.
The deal itself will take Guardiola's tenure at the club to over a decade, making him City's longest-serving manager since Les McDowall in 1963.
There had been suggestions that he may leave at the end of the season following the announcement that director of football Txiki Begiristain was on his way out.
Guardiola was strongly linked with the England job after Gareth Southgate resigned in the wake of their Euro 2024 final defeat, but the Football Association appointed Thomas Tuchel last month.
“Manchester City means so much to me," Guardiola said. “This is my ninth season here; we have experienced so many amazing times together. I have a really special feeling for this football club.
“That is why I am so happy to be staying for another two more seasons.
“Thank you to everyone for continuing to trust and support me – The Owner, The Chairman Khaldoon, Ferran, Txiki, the players and, of course, the fans… everyone connected to Manchester City. It has always been an honour, a pleasure and a privilege to be here.
“I have said this many times before, but I have everything a manager could ever wish for, and I appreciate that so much.
“Hopefully, now we can add more trophies to the ones we have already won. That will be my focus.”
Having been appointed in 2016, Guardiola is by some distance Manchester City's most successful manager of all time, having won 18 major trophies during his time at the club.
That list includes their first-ever Champions League triumph in 2023 and six Premier League titles, including an unprecedented four on the spin.
He also boasts a 72.04% win percentage across all competitions, which is unsurprisingly the highest of any full-time City manager in history.
Shaw at the double as Man City progress in Champions League
Khadija Shaw scored twice as Manchester City beat Hammarby 2-1 to seal their place in the Women's Champions League quarter-finals.
Gareth Taylor's team entered Thursday's game with a perfect record in Group D, and their fourth win in as many European matches ensured they finished in the top two.
Shaw—the leading scorer in the Women's Super League this season with eight goals—put them ahead in the 31st minute, driving into the area after taking in Yui Hasegawa's pass before seeing her shot deflect into the top corner.
Shaw was booked for celebrating in front of the home fans despite appearing to have objects thrown at her from the stands, and Hammarby should have levelled when Julia Blakstad fired wide 10 minutes later.
The hosts did draw level three minutes into the second half as Ellen Wangerheim tapped home while City's Laura Blindkilde Brown was down appealing for a free-kick.
That parity was short-lived, though, as Shaw blasted into the top corner from 25 yards out, taking her overall tally for this season to 12 goals in all competitions.
In Group C, meanwhile, Bayern Munich lost their perfect record as they played out a 1-1 draw with Valerenga, boosting Arsenal's hopes of topping the pile.
Jovana Damnjanovic came off the bench to put Bayern ahead 15 minutes from time in Norway, but Elise Thorsnes headed home following an 88th-minute corner to snatch a point for the hosts.
Arsenal could now move within a point of Bayern when they face Juventus in Group C's other match later on Thursday.
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