Barca cast doubt on Fabregas deal with debt pledge
BARCELONA have cast fresh doubt on the future of Arsenal captain Cesc Fabregas by insisting their summer transfer budget is strictly limited to £40m. In a highly unusual step, the European champions announced the size of their kitty and vowed to tighten their belts with the aim of clearing a £430m debt pile in just three years.
Fabregas (below) has looked increasingly likely to leave the Gunners during the close season, having been refused a move 12 months ago and then seen another campaign end without success. Personal terms are unlikely to be an obstacle, meaning the size of the transfer fee is the only significant stumbling block.
Arsenal turned down an offer for around £30m from Barca last summer and are believed to want closer to £50m to part with their prize asset, who still has four years left on his current contract. The Spanish club’s statement casts major doubt on their ability to prise the World Cup-winning midfielder from the Premier League.
Barcelona’s vice-president of finance, Javier Faus, said the Catalan outfit’s coffers contained “€45m [£40m] for new signings, plus money that may be obtained from sales.”
Clubs are typically secretive about their budgets for fear of losing an edge in negotiations, and Barca’s move will be seen by some as a cynical attempt to drive down Arsenal’s asking price. They may also top up their transfer fund by selling fringe players, with defender Maxwell and forwards Bojan Krkic and Jeffren tipped to leave. Spain Under-21 striker Krkic, however, could be used in part-exchange for Udinese’s Chilean forward Alexis Sanchez, who looks increasingly likely to move to Camp Nou.
The myth of Barca the model club was exploded last year when it emerged they were £370m in debt and had needed a £125m loan in order to pay their wage bill. Fears have been eased by a highly lucrative sponsorship with the Qatar Foundation, and the club say they now believe they can wipe out their mammoth liabilities by as soon as 2013.
“Gross debt has been reduced from €532m [£470m] to €483m [£429m], and the net debt from €431m [£382m] to €364m [£323m]. We want to decide our future and to do so we must reduce the debt to acceptable levels,” said Faus.
“There has been a great effort, which will continue over the next two years, to reduce this debt – a millstone that is essential and indispensable. This will make Barcelona the most financially solvent club in the world in two or three years.”
Barca’s 2009-10 revenue of £325m made them the second highest-earning sports club in the world, say Deloitte.