Barcelona have 50m euros to spend on new players
Saturday, 17 July 2010
MADRID, July 16 (Reuters): Barcelona have 50 million euros ($64.08 million) available to spend on strengthening their squad, the Spanish champions said on Thursday.
The club was forced to secure a five-year 155 million euro bank loan on Wednesday, to help resolve long-standing cash-flow problems and to meet immediate commitments such as paying the wages of staff and players from June.
New president Sandro Rosell and his board took the helm on July 1 and have set about re-organising the club's finances, but they said funds were still available for coach Pep Guardiola.
"The club has approximately 50 million euros net to spend on new players each season," Barca said on their website (www.fcbarcelona.com) after a news conference by vice-president for finance Javier Faus.
"In the case of this season, buying David Villa (40 million euros) combined with the sales of Yaya Toure and Dmytro Chygrynskiy balance themselves out.
"This means the club still has 50 million euros to spend."
Barcelona are trying to convince Arsenal to sell Spanish international Cesc Fabregas to them, but have already had a 35 million euro approach rejected.
They are expected to continue the pursuit of their former youth-team player, but Rosell has warned they are not prepared to break the bank to land him. They also have to consider other areas of their squad.
The club was forced to secure a five-year 155 million euro bank loan on Wednesday, to help resolve long-standing cash-flow problems and to meet immediate commitments such as paying the wages of staff and players from June.
New president Sandro Rosell and his board took the helm on July 1 and have set about re-organising the club's finances, but they said funds were still available for coach Pep Guardiola.
"The club has approximately 50 million euros net to spend on new players each season," Barca said on their website (www.fcbarcelona.com) after a news conference by vice-president for finance Javier Faus.
"In the case of this season, buying David Villa (40 million euros) combined with the sales of Yaya Toure and Dmytro Chygrynskiy balance themselves out.
"This means the club still has 50 million euros to spend."
Barcelona are trying to convince Arsenal to sell Spanish international Cesc Fabregas to them, but have already had a 35 million euro approach rejected.
They are expected to continue the pursuit of their former youth-team player, but Rosell has warned they are not prepared to break the bank to land him. They also have to consider other areas of their squad.