Barcelona said the player wanted to stay. The club wanted the same. They even shook hands on a deal.
But in the end the club’s dire financial situation made it impossible.
Letting Messi go was the only way of saving the club, and just like that Messi’s era at Barcelona came to an end.
President Joan Laporta said Friday that keeping the Argentine star would be risky, and not even the greatest player in the world was worth jeopardizing the club’s future.
“We think Barcelona is above all,” Laporta said. “The club is over 100 years old and is above everyone, even above the best player in the world. The club goes over players, coaches, presidents.”
Laporta spoke a day after the club announced the negotiations with Messi had ended.
Laporta blamed Barcelona’s previous administration for the club’s dire financial situation, which kept it from fitting Messi’s new contract within the Spanish league’s fair play regulations.
He said he hoped the league would have been more flexible with its rules but understood that it couldn’t make an exception even if that meant losing Messi.
“There are objective reasons regarding the economical situation at the club and an investment of that volume with the contract of Messi was risky,” Laporta said. “We wanted to assume those risks, but when we realized the real situation of the club after the audit, it meant that we would have put the club in great risk.”
He said Messi and the club did everything to make the contract work but it wasn’t possible without hurting Barcelona’s finances. The first deal rejected by the league was a two-year contract payable in five years, and the second was a five-year contract.
“Enough”
“There comes a moment when you need to say `enough’. You need to analyze rigorously with a cold head and look at the numbers,” Laporta said. “And in the Spanish league we have to abide by the rules. We think they could be more flexible, but that’s not an excuse, we knew the regulation. We couldn’t abide by it because of the inheritance we had.”
Laporta said Barcelona’s losses doubled from about 200 million euros ($235 million US) to 400 million euros ($475 million). The club’s debt recently was at more than 1 billion euros ($1.2 billion), and that wasn’t only because of the coronavirus pandemic.
“There is no margin after a calamitous situation that was all down to the previous board of administration,” he said.
Former President Josep Bartomeu resigned last year along with his board of directors amid his fallout with Messi and the club’s financial struggles.
The Spanish league has prided itself in having some of the stricter economic controls for clubs in Europe, keeping them from overspending and going into heavy debt. With these controls it was able to create a much stable and stronger league in the last few years.
Barcelona’s salary cap, which is roughly proportional to 70% of a club’s revenue, was expected to be slashed even further this season. Laporta said for every 25 million the club spends on a player, it has to make up 100 million in cap space, which “is not an easy process.” He said the club was already at its limit without the Messi contract.
Laporta said new funding recently secured by the league worth 2.7 billion euros ($3.2 billion) would have helped but the club was against the deal because it would have hurt the team’s broadcasting rights revenues for the next 50 years.
“We are not going to increase our salary limit by selling our audiovisual rights for the next 50 years,” Laporta said. “This decision would have been risky.”
League President Javier Tebas contested Laporta’s argument and hinted that the new funding, which is also opposed by Real Madrid and still needs to be approved by the majority of the clubs, would be a solution to keep Messi at the club. He said Laporta had been initially in favour of the deal but suddenly changed his mind.
Messi leaves with 35 titles under his belt
Messi is leaving after leading Barcelona into its most glorious years. He helped the club win 35 titles, including the Champions League four times, the Spanish league 10 times, the Copa del Rey seven times and the Spanish Super Cup eight times.
“Still trying to assimilate everything already knowing how difficult it will be,” midfielder Sergio Busquets said on Instagram. “I can only thank you for what you have done for the club. You arrived as a kid and are leaving as the best player in history, having made this club grow to the height that it deserves.”
The 34-year-old Messi was yet to make any public statements, and there was not immediate news on his future. Paris Saint-Germain was considered the front-runner to sign him after Manchester City coach Pep Guardiola all but ruled out the possibility of adding Messi to his squad.
“Leo wanted to stay, so he is not happy,” Laporta said. “We all wanted him to stay. But for him right now it’s a situation in which he has to confront reality. It’s a reality that can’t be changed. I wish him the best wherever he goes.”
TORONTO – Canada’s main stock index was up more than 250 points in late-morning trading, led by strength in the base metal and technology sectors, while U.S. stock markets also charged higher.
The S&P/TSX composite index was up 254.62 points at 23,847.22.
In New York, the Dow Jones industrial average was up 432.77 points at 41,935.87. The S&P 500 index was up 96.38 points at 5,714.64, while the Nasdaq composite was up 486.12 points at 18,059.42.
The Canadian dollar traded for 73.68 cents US compared with 73.58 cents US on Thursday.
The November crude oil contract was up 89 cents at US$70.77 per barrel and the October natural gas contract was down a penny at US2.27 per mmBTU.
The December gold contract was up US$9.40 at US$2,608.00 an ounce and the December copper contract was up four cents at US$4.33 a pound.
This report by The Canadian Press was first published Sept. 19, 2024.
Losing a loved one is never easy, and the legal steps that follow can add even more stress to an already difficult time.
For years, families in Vancouver (and Canada in general) have struggled with a complex probate process—filled with paperwork and legal challenges.
Thankfully, recent changes to Canada’s probate laws aim to make this process simpler and easier to navigate.
Let’s unearth how these updates can simplify the process for you and your family.
What is probate?
Probate might sound complicated, but it’s simply the legal process of settling someone’s estate after death.
Here’s how it works.
Validating the will. The court checks if the will is legal and valid.
Appointing an executor. If named in the will, the executor manages the estate. If not, the court appoints someone.
Settling debts and taxes. The executor (and you) pays debts and taxes before anything can be given.
Distributing the estate. Once everything is settled, the executor distributes the remaining assets according to the will or legal rules.
Probate ensures everything is done by the book, giving you peace of mind during a difficult time.
Recent Changes in Canadian Probate Laws
Several updates to probate law in the country are making the process smoother for you and your family.
Here’s a closer look at the fundamental changes that are making a real difference.
1) Virtual witnessing of wills
Now permanent in many provinces, including British Columbia, wills can be signed and witnessed remotely through video calls.
Such a change makes estate planning more accessible, especially for those in remote areas or with limited mobility.
2) Simplified process for small estates
Smaller estates, like those under 25,000 CAD in BC, now have a faster, simplified probate process.
Fewer forms and legal steps mean less hassle for families handling modest estates.
3) Substantial compliance for wills
Courts can now approve wills with minor errors if they reflect the person’s true intentions.
This update prevents unnecessary legal challenges and ensures the deceased’s wishes are respected.
These changes help make probate less stressful and more efficient for you and other families across Canada.
The Probate Process and You: The Role of a Probate Lawyer
(Image: Freepik.com)
Working with a probate lawyer in Vancouver can significantly simplify the probate process, especially given the city’s complex legal landscape.
Here’s how they can help.
Navigating the legal process
Probate lawyers ensure all legal steps are followed, preventing costly mistakes and ensuring the estate is managed properly.
Handling paperwork and deadlines
They manage all the paperwork and court deadlines, taking the burden off of you during this difficult time.
Resolving disputes
If conflicts arise, probate lawyers resolve them, avoiding legal battles.
Providing you peace of mind
With a probate lawyer’s expertise, you can trust that the estate is being handled efficiently and according to the law.
With a skilled probate lawyer, you can ensure the entire process is smooth and stress-free.
Why These Changes Matter
The updates to probate law make a big difference for Canadian families. Here’s why.
Less stress for you. Simplified processes mean you can focus on grieving, not paperwork.
Faster estate settlements. Estates are settled more quickly, so beneficiaries don’t face long delays.
Fewer disputes. Courts can now honor will with minor errors, reducing family conflicts.
Accessible for everyone. Virtual witnessing and easier rules for small estates make probate more accessible for everyone, no matter where you live.
With these changes, probate becomes smoother and more manageable for you and your family.
How to Prepare for the Probate Process
Even with the recent changes, being prepared makes probate smoother. Here are a few steps to help you prepare.
Create a will. Ensure a valid will is in place to avoid complications.
Choose an executor. Pick someone responsible for managing the estate and discuss their role with them.
Organize documents. Keep key financial and legal documents in one place for easy access.
Talk to your family. Have open conversations with your family to prevent future misunderstandings.
Get legal advice. Consult with a probate lawyer to ensure everything is legally sound and up-to-date.
These simple steps make the probate process easier for everyone involved.
Wrapping Up: Making Probate Easier in Vancouver
Recent updates in probate law are simplifying the process for families, from virtual witnessing to easier estate rules. These reforms are designed to ease the burden, helping you focus on what matters—grieving and respecting your dead loved ones’ final wishes.
Despite these changes, it’s best to consult a probate lawyer to ensure you can manage everything properly. Remember, they’re here to help you during this difficult time.
TORONTO – Canada’s main stock index was higher in late-morning trading, helped by strength in energy stocks, while U.S. stock markets also moved up.
The S&P/TSX composite index was up 34.91 points at 23,736.98.
In New York, the Dow Jones industrial average was up 178.05 points at 41,800.13. The S&P 500 index was up 28.38 points at 5,661.47, while the Nasdaq composite was up 133.17 points at 17,725.30.
The Canadian dollar traded for 73.56 cents US compared with 73.57 cents US on Monday.
The November crude oil contract was up 68 cents at US$69.70 per barrel and the October natural gas contract was up three cents at US$2.40 per mmBTU.
The December gold contract was down US$7.80 at US$2,601.10 an ounce and the December copper contract was up a penny at US$4.28 a pound.
This report by The Canadian Press was first published Sept. 17, 2024.
