Barca are financially hamstrung and haven't made any big moves in the market, while their rivals continue to strengthen
Here we are again. A summer transfer window involving Barcelona, complete with speculation, Instagram rumours and sly comments from their outspoken club president, Joan Laporta. Heard this one before?
Remarkably, it has now been two years since Laporta went on his lever-pulling frenzy, risking the Blaugrana's future finances for short-term success. And, if the goal was immediate gratification and the avoidance of financial ruin, then it worked. Barca won La Liga, and, as a sporting entity, they still exist. Job done.
However, those problems haven't gone away. The club's finances have recovered to an extent – they are no longer perennially flirting with doom – but they don't have the financial power to compete with Real Madrid or any of the rest of Europe's top clubs.
Barca find themselves in a remarkably similar position to past years, penny-pinching while relying on player sales and a faltering brand to assemble a squad capable of competing. Thus far, the misses have outnumbered the hits, with the Catalans once again falling behind the European elite.
GettyThe money
Barca's finances are, admittedly, in a better state than they once were. It was hard to keep track of all of the moves Laporta was making two years ago. In effect, he sold future chunks of revenue off for short-term injections of cash, effectively keeping the club alive by making risky deals. In doing so, he put faith in the Barca brand, hedging his bets that organic growth and on-field success would be enough to make up the difference down the line. Put another way: Barca were too big to fail.
And in some senses, they have avoided crisis. They posted a net profit over the last financial year, and were able to make a signing in January in Vitor Roque – albeit a misguided one. But they are still far below the threshold required to be able to spend freely under La Liga's strict financial regulations. Laporta and league president Javier Tebas are still exchanging jabs through the media. Meanwhile, no one seems to know if Barca can actually afford all of the big-money moves they have reportedly been flirting with.
AdvertisementGetty Images Still no defensive midfielder
It has been over a year since Sergio Busquets left for Inter Miami, and Barca still haven't found a way to replace him. Admittedly, there was no point holding onto an aging No.6 whose legs had gone. It was, in fact, credit to Xavi that he was able to get one last year of quality out of the La Masia academy graduate. Throw in that Busquets is effectively the modern archetype of the position, and it was always going to be a difficult task.
But their efforts have been feeble at best. They struck out on Martin Zubimendi last season and settled for Oriol Romeu – who looked every bit a Southampton reject in a woeful campaign in Catalonia. Xavi ended up using centre-back Andreas Christensen as a defensive midfielder – more of an emergency stopgap than a long-term solution. Looking at the team on paper, it is still the biggest problem area to address.
Yet the Blaugrana have refused to do so. Zubimendi reaffirmed his commitment to Real Sociedad this summer, while there has been no substantive talk of other options being pursued. Barca, in short, still haven't solved their most pressing problem.
Getty ImagesThe Nico Williams pursuit
Barca have talent in a number of key areas, but they don't have a pure left-winger. New manager Hansi Flick will surely have some sort of solution there – more on that later – but no one in this imbalanced squad is at their best on the left.
Enter Nico Williams. The Athletic Club winger was quietly among the best players in La Liga last season, and absolutely exploded at Euro 2024. Blisteringly quick, skilful on the ball, and ever-improving as a finisher, the winger – who has a good relationship with Lamine Yamal – seemed the perfect addition to a squad that needed help on the left.
Transfer chatter started during the Euros, and has never really stopped. Barca's players have been publicly flirting with the player on social media, and didn't even attempt to hide that they wanted him strutting his stuff in Camp Nou. But it seems that their efforts have been in vain, with Williams, like Zubimendi, pledging his future to his current club.
Getty ImagesThe Raphinha problem
A victim of all of this is Raphinha. The former Leeds man has never been allowed the chance to settle at Camp Nou. First blocked from the XI, then used on the wrong side of the pitch, and later subject of constant links to other clubs – the Brazilian is yet to convince in Catalonia.
It's unfair on the Brazilian, who can offer an immense amount of quality from wide areas, and can certainly be an impact player for a big club under the right circumstances. Still, it seems that, once again, Barca could be forced into entering negotiations to get rid of him. This is a squad full of young talent, but with few genuinely sellable assets that can be moved for a decent price. Raphinha is among them. A bid for his services could comfortably eclipse €40 million (£34m/$43m) – exactly the kind of money-making exercise the cash-strapped Blaugrana need to engage in.
None of this seems just, especially for a real talent who proved himself good enough to start for Brazil at Copa America, but Raphinha might be on the way out.