Barcelona have money to spend – Rossell

(GSM) – Barcelona have a good amount of money spend in the transfer market, according to new club president Sandro Rossell. The Barcelona president has announced that the club has 50 million euros ($64.08 million) available to spend on bolstering their squad.

The club was forced to secure a five-year 155 million euro bank loan on Wednesday, to help resolve long-standing cash-flow problems and to meet immediate commitments such as paying the wages of staff and players from June.

Rossell insists that funds are available for Pepe Guardiola this summer.

“The club has approximately 50 million euros net to spend on new players each season,” Barca said on their website (www.fcbarcelona.com) after a news conference by vice-president for finance Javier Faus.

“In the case of this season, buying David Villa (40 million euros) combined with the sales of Yaya Toure and Dmytro Chygrynskiy balance themselves out.

“This means the club still has 50 million euros to spend.”

Barcelona are interested in luring Arsenal captain Cesc Fabregas, but they have had a 35 million euro bid turned down by the Gunners.

Barca have only landed Spain striker David Villa and have offloaded Thierry Henry, Yaya Toure and Dmytro Chygrynskiy. The Catalan giants are poised to sign new players with their strong squad looking thinner than ever.