/ 5 June 2003

Barcelona board resigns with €98-million debt

Barcelona’s interim president, Enric Reyna, and its board of directors resigned on Tuesday, smoothing the way for the troubled club to elect a new president. The resignation en masse was ratified on Monday at an assembly of club members, which agreed that a provisional body would take over later on Tuesday and subsequently set a date for the next presidential election.

Most of the candidates want the election to be held on June 22, the date of Barcelona’s last match of the season. Reyna said at Monday’s assembly that the Catalan club’s deficit for this season would reach €55-million (about $62,3-million) by June, adding that he would pass on to the new president his plans to solve this shortfall. He said that Barcelona’s total debt stood at €98-million (about $111-million).

Reyna took over on February 12 when Barcelona’s president, Joan Gaspart, stood down after a two and a half year spell in which the club failed to win a major trophy and suffered financial woes and boardroom upheaval. Two weeks earlier, Gaspart ended Dutch coach Louis van Gaal’s eight-month spell in charge when the team slipped to the lower reaches of the standings. He appointed Radomir Antic as a replacement until the end of the season.

Barcelona’s elimination from the Champions League two weeks ago at the quarterfinal stage ended its hopes of gaining any silverware this season. It lies in eighth place in the league and is aiming to clinch a berth in next season’s Uefa Cup by finishing in the top six. -Sapa-AP