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Barcelona have not been allowed to register their new signings by La Liga four days before their La Liga opener against Rayo Vallecano.
According to the Guardian, La Liga have rejected Barcelona's attempt to inflate the value of their asset sales by using their own capital.
Despite their dire financial situation, Xavi Hernandez's side spent in excess of €150 million on five new signings this summer. They acquired Andreas Christensen, Franck Kessie, Jules Kounde, Raphinha and Robert Lewandowski to bolster their title hopes.
However, Barcelona are facing debts totaling up to €1 billion. So they have been force to sell assets to raise funds required to balance theit books and acquire their transfer targets this summer.
The Blaugrana have sold 25% of their television rights to American private equity group Sixth Street for the next 25 years. They initially struck a deal which would see them hand over 10% of their TV rights to the San Francisco-based company before reaching an agreement for another 15%. They have also sold 24.5% of Barca Studios to Socios.com in their third 'economic lever' of the summer.
The Blaugrana accounted for benefits of €667 million, but La Liga's audit indicated that the club received only €517 million from Sixth Street and Socios.com. Barcelona reportedly paid the remaining €150 million themselves, which despite being legal, is deemed by La Liga as the club's own.
The Spanish giants are believed to have set up a company called Locksley Investments, who have bought Barcelona's TV rights and will assume ownership of the asset after the completion of Sixth Street's 25-year contract. So the Blaugrana could struggle to register their new signings before the start of the new season unless they can sell more assets in the coming week.
Many Barcelona stars, including Gerard Pique, agreed to take pay cuts last season and deferred their salary payments to help the club. The Blaugrana could attempt to persuade their top earners to take pay cuts once again to reduce their wage bill and be able to register their new players. They are also planning on selling another 25% of Barca Studios for €100 million.
Player sales could help Barcelona tackle their financial issues
Barcelona have raised funds through asset sales but have struggled to reduce their wage bill and raise capital through player sales this summer. The likes of Frenkie de Jong and Memphis Depay have been heavily linked with moves away from the club but are seemingly reluctant to leave Camp Nou.
The Blaugrana could, however, make some last-minute sales. As per Bleacherreport, Chelsea are interested in signing striker Pierre-Emerick Aubameyang.
The former Arsenal star joined Barcelona in January on a free transfer. He enjoyed an impressive start to life at Camp Nou, scoring 11 goals in 17 La Liga games, helping them finish second in La Liga. However, he could be considered an expendable asset, as the club signed Robert Lewandowski from Bayern Munich this summer.
