Barcelona Announce €79M Losses With Debt Of €430M

zocoss SG

Funny money: David Villa may be one of the last big purchases for Barcelona

Barcelona's big spending days are over as they try to reduce debts of more than £350million. UEFA are bringing in rules to control club finances.

Barcelona have voted to take legal action against their former board for 'mismanagement'.

'Austerity will be a pillar in our day-to-day management,' said president Sandro Rosell.

zocoss SG

Barcelona have announced losses of €79 million for last season (2009-10), but president Sandro Rosell remains confident that the club are working hard to curb their debt which now stands at €430m.

The figures were announced at the club's general assembly on Saturday, but despite being in the red, Rosell can see a positive outlook.

"Knowing the truth is the only way to establish a solid path. We understand how we need to proceed along the road and soon we will recover the positive numbers," he told the press as reported by Marca.

"We must look at the future with optimism. We confirmed a bank loan of €155 million which guarantees economic strength and keep up with payments. Soon we will recover the positive numbers."

Y_Shun SG

tsk tsk tsk

the crazy spendng really must be stopped unless you have a rich owner...

I-like-flings(m) SG

Peter Lim coming out again lo...

dragg SG

really crazy.

even with their current squad there is no guarantee they will win all the trophies.

i hope Real win the la liga.

zocoss SG

Barcelona have told Wayne Rooney's advisors that they have no intention of making a January move for his services, according to El Mundo Deportivo.

Rooney, 24, has told Manchester United he has no intention of signing a new contract and wants to leave the club. This news has reportedly alerted Manchester City, Real Madrid, Chelsea and the Catalans.

The England striker's representatives are understood to have reached out to Barca but were firmly knocked back by sporting director Andoni Zubizarretta. The Primera Division champions intend to keep faith with Bojan Krkic and are unable to fund a big money bid in the New Year due to mounting debt.