Rosell announces plans to improve Club finances

06.07.2010 12:29

Rosell announces plans to improve Club finances

Berta Brau

New president Sandro Rosell revealed on Tuesday that the first priority of the new board is to improve the short-term financial situation of the Club. He confirmed that the Club will be asking for a syndicated credit of 150 million euros.

Mr Rosell announced on Tuesday: “We found the Club in debt and with cash flow tensions but we’re sorting that out”. However, he assured the membership that the situation would be resolved over the next few days: “The membership needn’t be concerned. The Club isn’t bankrupt. This week we’ll have everything in place to impose a policy of austerity to be able to make savings in unnecessary areas and meet very important commitments such as paying the wages of our players, coaches and employees”.

Syndicated credit of 150 million euros

“We have to improve our cash flow to meet our short-term commitments. In the next few days, our vice-president for economic affairs will close a deal for a syndicated credit of 150 million euros”. Mr Rosell confirmed that the sale of Dmitro Chygrynskiy had been motivated by the financial needs of the Club as well as footballing considerations.

No increase in membership fee

He explained that the previous board had already applied for the credit, “knowing that there weren’t sufficient resources”. The negotiations with the banks have followed on from the moves made by the previous board, “but with the difference that our business plan does not contemplate an annual rise in the price of the membership fee, a clause which does figure in the previous negotiation”.

Meetings for Rosell in South Africa

Sandro Rosell is due to fly out to South Africa next Friday where he will conduct a series of meetings of interest to FC Barcelona. This means that he will be unable to attend a demonstration against a recent ruling of the Spanish Supreme Court restricting the independence of the Catalan Parliament. However, he emphasized that the Club would be represented. “The members voted for a president and for 18 other board members. We are a team and we all represent FC Barcelona. In this case our representatives will be vice-president Jordi Cardoner and board members Jordi Moix and Pilar Guinovart”.

“We have to sort out Johan Cruyff’s situation”

Rosell expressed his regret at the situation that has been created by the return of the insignia accrediting Johan Cruyff as Honorary President: “Johan Cruyff is a living legend of the Club and he should be treated as he deserves”. However, he denied that the matter had tarnished the image of the Club given that the position of honorary president is not contemplated in the Club Statutes. He explained that the matter would be resolved at a general assembly of members’ representatives.

TV deals

The Club has been experiencing problems regarding the payment for rights to broadcast Barça’s matches on TV. Today Mr Rosell explained: “We have spoken to representatives of Mediapro about their situation because everyone believes that they are in receivership”. He explained that Mediapro had given him assurances that the money owed would be paid but Mr Rosell insisted that he would not be satisfied until the money arrived. He pointed out that unlike TV deals with other clubs such as Real Madrid, Barça only had a verbal guarantee of payment.