But indeed in this case saying bankrupt is also impossible for now, Barcelona has poor financial management and we know that but on the other hand when there is a penalty for Barcelona because they are bankrupt it will not be possible. It needs to be realized that La Liga is big because of Madrid and Barcelona so why can they be free when their debts are still piling up because if in the end if there is a penalty about Barcelona then surely La Liga's reputation is also tarnished which in turn this can reduce the interest of the audience because we know big clubs like this have the power to increase broadcasting rights.
I think Barcelona stop signing player have contract with their teams, if want have balance financial condition sign player have been free agent although with lower qualities but Barcelona hasn't debt difficult for paying full payment fees transfer. To get fresh money by selling some player, Barcelona difficult selling which one player has higher market values right now but they are not regular position.