Raphinha's Leeds United transfer complicated by Barcelona's non-negotiable €500 million problem

Friday, June 10 marks the official opening of this summer's transfer window, however Leeds United have already committed to £35 million worth of incomings.

Brenden Aaronson's transfer from FC Red Bull Salzburg will set United back a cool £25 million, while Danish international Rasmus Kristensen - also signed from the Austrian club - cost in the region of £10 million.

Despite a dearth of sales in recent seasons, the Whites are widely expected to recoup fees for first-team players this summer as Jesse Marsch plans to rebuild the United squad.

Two players linked with an Elland Road exit are Kalvin Phillips and Raphinha - arguably the side's two most influential individuals.

The latter appears most likely to depart, with interest from across Europe in the Brazilian's services after an 11-goal Premier League campaign last term.

Spanish giants Barcelona have been credited with an interest in the player, however Leeds are yet to receive an initial approach.

Liverpool and Bayern Munich are also said to be in the running for Raphinha's services, but are currently involved in negotiations for Benfica striker Darwin Nunez and Reds forward Sadio Mane, respectively.

The saga surrounding Raphinha's future appears one which may drag on into the summer transfer period, primarily because the club with the strongest interest do not possess the resources to release him from his Leeds contract.

Raphinha signed a deal until 2024 when he joined Leeds in 2020, meaning there are still two years to run on his contract.

United's final day victory over Brentford which ensured Premier League survival meant Leeds' hand was strengthened considerably in any transfer negotiations for the Brazil international.

Returning to the Championship would have seen an exodus of first-team internationals, including Raphinha, for cut-price fees.

As it turns out, Barcelona will have been hoping for a Leeds United relegation due to their present financial situation.

The Catalan club are steeped in debt, and most recently borrowed an additional €800 million from multinational investment bank Goldman Sachs.

In total, Barcelona have borrowed €1.5 billion from the American firm, and recent reports suggest new terms dictate the funds are to be spent exclusively on infrastructure projects such as the redevelopment of Camp Nou.

"The updated terms and conditions of the agreement are said to rule out the use of any of the funds provided to sign new players and bring fresh faces into the squad," report Finance Monthly.

There are outstanding issues with a €90 million bridging loan, too; a sum borrowed to mitigate costs related to the coronavirus crisis. Barcelona's repayment obligation on this loan has now doubled to €180 million having twice failed to repay that particular debt.

Additionally, the club have difficulty in registering new players due to restrictions related to LaLiga's salary cap.

Last year, defender Gerard Pique took a voluntary pay-cut allowing the club to register new additions, however that was never viewed as a long-term solution.

Meanwhile, Barcelona's economic vice president Eduard Romeu believes the Catalans need €500million [£428m] to be saved from financial turmoil.

"It is still critical, but the advantage compared to a year ago is that we know where we are and we have the problem detected. We know what the drama is," Romeu told Sport.

"Give me €500m. It is what we need to save Barca."

Publicly, the club are flirting with the possibility of signing out-of-contract Bayern Munich star Robert Lewandowski which would not be a deal that comes cheaply.

Coupled with the club's failure to make an approach for Raphinha and 'complications' related to their current financial situation, it appears Barcelona are - despite their insistence - not at the front of the queue to sign the Leeds United man.

The expectation remains that Raphinha will leave Elland Road this summer ahead of this year's FIFA World Cup in Qatar, where he is anticipated to star for the Seleção.

Where he plays his club football in 2022/23, though, remains a mystery.