Why can't Barcelona register their summer signings yet? Explaining their financial crunch before LaLiga start

(Editor's Note: This was updated on Friday following news that Barcelona had sold a further $100m in assets in order to get compliant with LaLiga ahead of the 2022-23 season.)

There have been player presentations almost every week at Barcelona this summer. July began with the unveiling ceremonies of Franck Kessie and Andreas Christensen, two players signed on free transfers. Then came Raphinha from Leeds United, Robert Lewandowski from Bayern Munich and Jules Kounde from Sevilla at a cost of over €150 million in combined transfer fees. Sources have told ESPN more signings could follow, too. Chelsea left-back Marcos Alonso is expected to move to Camp Nou and Manchester City's Bernardo Silva remains a target, albeit a slightly more unattainable one at this stage.

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Barca president Joan Laporta has delivered on his promise to back coach Xavi Hernandez by building a competitive squad capable of competing on all fronts, but in doing so, questions have been raised about Barca's spending. Laporta himself described Barca as «clinically dead» last year, with gross debt totalling €1.3 billion. As recently as June, he said the club was still in intensive care. Less than a month later, he was signing Lewandowski for €45m and declaring the club to be «out of the hospital,» prompting Bayern coach Julian Nagelsmann to wonder out loud: «The only club that has no money but buys every player they want. I do not know how. It's kind of crazy.»

The source of Barca's spending is not difficult to understand. In selling off 25% of their domestic television rights to