Barcelona president Joan Laporta says they had no other option but to cut loose Lionel Messi.

It was announced last night that Messi was leaving Barca after the collapse of contract talks.

Laporta addressed the media this morning: “I come to explain why we have reached this situation.

"Unfortunately we have received a disastrous inheritance and the sports mass represents 110% of the budget. We have no margin. We knew it since we arrived at the club, but we have found ourselves in a much worse situation than we expected and what we had been told.

"The losses are much higher, the debt, the same. LaLiga Fair Play did not allow us to fit Messi's first contract."

He added, “I am not willing to mortgage Barça for 50 years, because Barça is above everyone else, even above Leo Messi, to whom we will be eternally grateful. Renewing Messi carried certain risks, which we were willing to take, but it was risky. Leo wanted to stay, we wanted him to stay but we had to leave the emotions out, be cold and we have to abide by the LaLiga rule, which could be more flexible. I am sad, but happy because I think we have done the best for the club."

Asked about Messi's legacy, Laporta stated: "He has been the best, the benchmark for the best stage in the club's history. Samitier, Kubala Johan, Messi. He has been a reference and has generated a collective illusion and images for history."