New Barcelona president Sandro Rosell has admitted that the club are in financial difficulties after the players' wages for June had not been paid.
Rosell took over the helm at Camp Nou last week, succeeding Joan Laporta, and immediately sold centre-back Dmytro Chygrynskiy to his former club Shakhtar Donetsk for 15million euros to alleviate the club's financial problems.
Coach Pep Guardiola had stated his intention of holding onto the 23-year-old, although the defender struggled for first-team football, playing just 14 times for the Catalan giants, so the move came as somewhat of a surprise when Rosell sold him back to Shakhtar.
The president explained his administration were forced to act, both with that sale and by seeking further funds from banks.
He told Sport : "We found a club in debt, with liquidity problems.
"At this point we have to take a loan to pay the wages of the players.
"The squad were supposed to be paid at the end of last month and still haven't been.
"We'll fix a loan of 150million euros.
"The banks know that we have a business plan that will allow them to recover the money.
"The club is not bankrupt because it generates income."
PanicHowever, Rosell insisted the situation was not a reason to panic even though the La Liga champions record an annual turnover of 400million euros.
"The members shouldn't be afraid because it is under control," he said.
"We must resolve this tension.
"It can be done in two ways: to have extra income, like selling Chygrynskiy, and/or taking a loan, which is what we have done.
"The previous board had already begun this process. We followed the same path - the same banks, the same target but with a different business plan.
"They (Laporta's board) also knew they needed this credit.
"We hope to sign it this week."
Rosell admitted: "The club has spent more than it has made."
Despite the current financial climate, the club have already purchased David Villa from Valencia for 40million euros and Rosel is adamant that there is as much as 89million euros still to spend on new blood.
"There will be 50million euros to sign more players," he said.
"This is the case every year. This is our plan for the future.
"Technically, as of now we have 50 million plus 15 for Chygrynskiy and 24 for (Yaya) Toure. In total, 89million."
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