Laporta said the only way to keep Messi would have been to accept the deal proposed by LaLiga this week, which would have seen 10% of the league's business sold to the investment fund CVC Capital Partners.

Weighing up the pros and cons of LaLiga's agreement with CVC, Laporta said no one is bigger than the club and that accepting the terms of the sale could have put the club at risk in the long term.

"It would not be in Barca's best interests," he said. "We were going to receive some money but we think that accepting it -- and affecting our [revenue from] television rights for the next 50 years -- is not something we can do [to keep Messi]. It's too risky. The club is above players, coaches and presidents."

Years of mismanagement have led Barca to this point where they are unable to register Messi, their record appearance holder and top goal scorer of all time. Laporta described the situation he has inherited from previous president Josep Maria Bartomeu as a "shipwreck."

He explained that with Messi, Barca's wage bill would be 110% of their revenue. Without Messi, it will still be 95% and they have work to do to get it down to the recommended level of 70%.

That made it impossible to register Messi with LaLiga for the upcoming season. The Spanish league set a spending limit for each club. Barca's was over €600m prior to the pandemic but fell to €347m last season. Further cuts are expected for the upcoming campaign.

Laporta said an internal audit has only just revealed the true severity of the club's financial perils, saying that it was "much worse than expected" and that Barca stand to register losses of €487m for the 2020-21 season.

After speaking to the first-team squad and coach Ronald Koeman on Friday at the training ground, the president said everyone must now pull together to lead Barca forward in what he described as "the post-Messi era."

He said: "There's sadness but the players and Ronald are professionals. They have the chance now to show that with their talent they can lead Barca to success.

"It's time to take on the challenges we set ourselves and to try and win all the competitions we take part in. We demand professionalism and will give maximum support to the players and the coaches in pursuit of excellence."

Laporta said he was aware Messi has received several offers from other clubs but said he did not know if one of them was Paris Saint-Germain, who have emerged as the favourites to sign the Argentina international.

Despite the gravity of the financial situation, Laporta added that he believes new signings Memphis Depay, Sergio Aguero, Eric Garcia and Emerson Royal can be registered with LaLiga. He said they have all accepted lower salaries and that their situations weren't comparable with Messi's.

He also refused to rule out making further signings before the transfer window closes at the end of the month.