FC Barcelona 442 Million Euros In Debt
La Liga champions FC Barcelona are 442 million euros (£369.5 million) in debt following a loss of more than 77 million euros (£64.4 million) last season a new audit has revealed.
The recent audit performed by Deloitte for new president Sandro Rosell is a stark contrast to the 11 million euros in the black that the Joan Laporta-led board claimed in June.
Barcelona’s costs rose to £400 million in the 2009-10 season, with their income at £341.7 million.
The club needed to take out a loan of approximately £125 million in order to pay their players wages at the end of June and raised cash by sellining defender Dymtro Chygrynskiy to Ukrainian champions Shakhtar Donetsk.
Despite this gloomy financial picture, Barcelona paid £33.4 million to Valencia this summer to sign Spain international David Villa and are prepared to spend even more money to lure Cesc Fabregas of Arsenal to the Nou Camp.
Arsenal are refusing to negotiate the sale of their prized asset and the midfielder has been a transfer target throughout the summer.
Barcelona lodged a bid of 35 million euro (£29 million) which was turned down and the club have attempted several times to talk with the Gunners, but spokesman for the Catalan giants, Tony Freixa says the club have been left frustrated by Arsenal’s tough stance.
“Arsenal don’t want to sit down and negotiate with us” he said. “It’s not a problem with the wishes of Cesc or of Barca – they simply don’t want to negotiate”.
The 23-year-old Fabregas has a further five years remaining on his contract at the Emirates Stadium but has publically stated he would like to play for Barcelona.
However, combined with Arsenal not being prepared to enter negotiations, it remains unclear whether Barcelona could afford the anticpated mega transfer fee for the creative midfielder.
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Posted by Jason
on Jul 28 2010. Filed under Featured News, Finance.
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