Barcelona secure 155 million euro bank loan
Barcelona: Barcelona have secured a 155 million euro (USD 197 million) loan from a group of banks led by La Caixa and Banco Santander, the Spanish champions said on their website on Wednesday.
Just over a week ago, new club president Sandro Rosell revealed they had been forced into the move for cash flow reasons, as they were struggling to pay important commitments such as the salaries of players, coaching staff and employees.
Vice-president of finance Javier Faus will give details of the arrangement at a news conference on Thursday.
Joan Laporta stepped down as president at the end of June making way for Rosell, who was the overwhelming choice for club members in last month`s presidential election.