They may be one of the biggest spending clubs in Europe and their players will make up the bulk of the Spanish team in tonight's world cup clash with Germany, but Barcelona are seeking a €150m loan to pay player and staff wages.

The move was taken by new club president Sandro Rosell.   He emphasised on the club's website that the club was not bankrupt, but announced an austerity policy which would impose savings in 'unnecessary' areas (which raises the question why the spending was taking place in the first place).  He admitted that the club faced cash flow problems which is another way of saying it is not far off being insolvent.

Last week the club claimed to be the biggest sports team by revenues, saying sales for the 12 months to June 30 rose 16 per cent to €445.5m.   However, the Spanish economy is in crisis and there is a particular concern about money the club is owed by its TV rights partner.   Last month Mediapro announced it was seeking bankruptcy protection over a dispute with a pay-TV company.

The seven year contract worth €1bn runs until 2013.   According to the club's website Mediapro said that the money would be paid.   However, it was also admitted that, unlike deadly rivals Real Madrid, there was only a verbal guarantee of payment which has little value in legal terms.   On the face of it, it looks as if someone has made a big mistake.

It was also admitted that one of the club's players, Dmitro Chygrynskiy had been sold for €15m partly for financial reasons.    None of this will please the fervent supporters of Barcelona, in particular in terms of their ability to compete with Real Madrid.    This is one of the most well-developed football rivalries in Europe with its political undertones and fascinating to a neutral outsider.

The news will also be greeted with concern by Uefa which is an admirer of the mutual model of running a club like Barcelona which supposedly leads to fewer financial problems than the English model of ownership by wealthy individuals.

Barcelona failed to pay their players at the end of June, club president Sandro Rosell has revealed.

Rosell, who succeeded Joan Laporta at the financially troubled Catalan outfit last week, also said a loan of about £125m had been secured to pay wages.

 Crystal Palace have been saved from extinction after an agreement in principle was reached for CPFC 2010 to buy the club and Selhurst Park.

Administrator Brendan Guilfoyle gave them until 1500 BST on Tuesday to reach agreement with Lloyds Bank or he would start to liquidate the club.

Galatasaray’ın profesyonel takımı ve Futbol Akademisi yapılan özel sözleşmeyle satıldı!

Sarı-kırmızılı kulübün uzun süredir gündeminde olan Sportif A.Ş. ile Futbol A.Ş.’nin birleştirilmesi sürecinde mutlu sona çok yaklaşılırken, 14 Mayıs tarihinde yapılan protokolle profesyonel takım ve Futbol Akademisi çatısı altında bulunan alt yapının devir işlemi gerçekleştirildi.
Buna göre Galatasaray Sportif A.Ş.; Galaxy Management, ATA Uluslararası Bağımsız Denetim ve SMM A.Ş. ile Galatasaray Futbol A.Ş. arasında 14 Mayıs’ta imzalanan devir protokolüyle 17 Mayıs’dan itibaren geçerli olmak üzere profesyonel takım ve Futbol Akademisi’ni, 245 milyon 200 bin TL bedelle satın aldı.

Chelsea owner Roman Abramovich has emerged as an unlikely ally to Uefa president Michel Platini's crack down on football clubs playing in Europe who spend beyond their means. 

Football Association chairman Lord Triesman’s criticism of the indebtedness of English football appears to have spooked bankers with at least three Premier League clubs receiving cautionary calls from lenders.

Chelsea strongly defended their financial structure and have rejected any suggestion that the club's estimated debt figure of £730 million could ultimately jeopardise their participation in European competitions.

By Jeremy Wilson
Published: 10:10PM BST 08 Oct 2008

Uefa will act to curb the rising tide of debt in football, threatening to ban clubs that do not comply with new financial regulations from taking part in European competition.

By Paul Kelso
Published: 10:10PM BST 08 Oct 2008

Counter balance: David Taylor (right) and Michel Platini want debt limits for clubs Photo: AP

Speaking 24 hours after Football Association chairman Lord Triesman criticised Premier League clubs for carrying a total of £3 billion in debt, Uefa general-secretary David Taylor said his organisation and its president, Michel Platini, shared his concerns.