Barcelona make 'F1 car' vow with financial fix to reignite chase for Leeds United's Raphinha

A virtual Extraordinary General Assembly approved a pair of mechanisms that will allow Barcelona to raise an estimated 600m euros as they attempt to return a 2021/22 financial year profit and invest in Xavi's playing squad.

Raphinha, whose agent Deco has a close relationship with the Catalan giants, has been one of their key targets but the complicated financial mess at the Camp Nou has allowed others, including Premier League trio Tottenham Hotspur, Arsenal and Chelsea, to enter the conversation for a player who should generate a transfer fee of at least £50m to £60m.

Last night, however, Barcelona delegate members chosen to represent the fans voted in favour selling off almost half of the club's retail arm Barcelona Licensing and Merchandising and part of its TV rights revenue to raise the necessary cash to operate as they wish in the summer transfer window - although their wage bill is still in need of some trimming. Along with Raphinha they are known to be eyeing Polish international legend Robert Lewandowski.

During the assembly club president Joan Laporta likened Barcelona to a damaged Formula 1 car that had run out of fuel with a seized engine. He says the club's debt restructuring, wage reduction and increased income allowed them to 'start the F1 car up' but it still couldn't move until these two latest financial 'levers' were activated to 'correct the finances earlier than forecast, obtaining positive equity, paying off the debt in a sustainable manner, and being able to make the investments required for our professional teams to be more competitive.'

Laporta believes last night's votes will mean the 'F1 car can leave the pits and return to the front row of the grid to compete and win again.'

Leeds are yet to receive any official bids for Raphinha, or Manchester City target Kalvin Phillips, but the club are anticipating interest to turn into offers this summer. If either man was to be sold, the ownership will move to replace them. The Whites have already made a pair of key signings with the £35m spent on Brenden Aaronson and Rasmus Kristensen, with a further £10m deal for Bayern Munich midfielder Marc Roca expected to be agreed and announced later today. Leeds are also in the market for a centre forward to compete with Patrick Bamford, Joe Gelhardt, Rodrigo and Tyler Roberts.