Barcelona news

Barca chief 'concerned' over finances

June 22, 2011
By ESPNsoccernet staff

Barcelona president Sandro Rosell says that he is 'concerned' by the financial state of the current European champions and has urged the club to start to balance the books.

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Rosell has been a vocal critic of the way the club was run under former incumbent, Joan Laporta, whom he displaced in 2010, and despite the fact that they have €45 million available to bring in new players in the summer, believes a period of prudence is required.

"I am concerned about the club's economic sustainability. We have to balance the books. In two or three years we hope to be a solvent club,'' he told TV3. "When we came in, we found the debt was much bigger than they had told us. We negotiated a syndicate credit with the bank. We were very worried because we had no money to spend."

Rosell maintained that the club do have a significant transfer budget this summer, but that it was not a long-term solution.

"We have sorted out the situation and what the economic area has achieved means we have €45 million to spend on transfers this summer plus sales. We have a business plan, and after what we have said, the banks trust us and have given us this credit. But you have to pay credit back."

Barca's debts are reportedly in the region of €450 million, however, they are still chasing the big-name signing of Cesc Fabregas from Arsenal and are believed to be closing in on Alexis Sanchez from Udinese for around €35 million.