Both the club, which has suffered steep losses recently, and 34-year-old Messi had wanted to sign a new contract. But the Argentine's deal would have taken salaries to 110 percent of the club's earnings, a financially risky move given the impact of the Covid-19 pandemic, Laporta said.
"The club is above everything - even above the best player in the world,
"We reached agreement but couldn't formalise it, because of the club's economic situation, which means we can't register the player due to salary limits," he said.