Barcelona gets loan to ease cash-flow problems
Spanish league champion Barcelona says it has signed a ?155 million ($197 million) loan with banks to help ease a cash-flow problem that resulted in some players not getting paid on time.
The club's website said Wednesday the deal was signed with Santander and La Caixa banks.
It said the deal was ''a show of support by the various financial institutions for FC Barcelona.''
Newly elected Barcelona president Sandro Rosell last week said he was negotiating the deal to ensure the club's liquidity, adding that some of the players had not been paid on time in June.
He said he had found a club in debt and under cash-flow pressure on taking over July 1, though he stressed it was not bankrupt because it generated revenue.