An aristocratic industrialist (he was Baron of Ovilvar), a monarchist and personal friend of King Alfonso XIII, he became president one week before the government suspended all FC Barcelona activities for six months after the booing of the Spanish national anthem on June 14, 1925 at Les Corts.
He was a fervent Barcelona supporter who was held in high regard by the authorities, and was the man who took over from Joan Coma, the interim president after the forced resignation of Joan Gamper. These were difficult and delicate times, but Arcadi Balaguer and his board showed an admirable capacity for overcoming the troubles and set about reorganising the club's internal structure.
His excellent work was recognised when in March 1929, after resigning from his post, the new Board of Directors awarded him the FC Barcelona Medal of Merit. Under the Balaguer presidency, the team, with several major stars and at the peak of its golden era, won three Catalan Championships (1925-26, 1926-27 and 1927-28) and two Spanish Championships (1925-26 and 1927-28). The negatives of this stint were the forced de-linking of FC Barcelona from Catalan identity and the imposed marginalization of Joan Gamper, who became the scapegoat of the Primo de Rivera dictatorship.