Barcelona secure massive €155M loan to end financial doubts

Barcelona have secured a €155 million loan to cover their financial problems.

Barcelona have secured a €155 million loan to cover their financial problems.

The loan, announced last week but signed on Wednesday, will be lent jointly by a host of banks, led by La Caixa and Banco Santander. Caja Madrid BBVA, Banesto, Banco Popular, Banco Sabadell, Caixa Catalunya, CAM and Cajamar are the others.

"The operation forms part of a new strategic plan devised by the new board, presided over by Sandro Rosell," Barca announced on their website.

New club president Rosell revealed last week that the Catalan outfit had been unable to pay player wages owed at the end of June and said the sale of defender Dmitro Chygrynskiy was needed to bring in vital funds to the club's coffers.

Despite Barca's delicate finances, Rosell claimed his club still had €50million available for transfers, which he said would rise to 89million following the sales of Chygrynskiy and Yaya Toure.

Barca have already signed striker David Villa for €40million this summer and have had a €35million bid for Cesc Fabregas turned down by Arsenal.

 
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