Debt ridden Barca loses hope of snaring Fabregas

LONDON - Barcelona FC’s chances of attracting Arsenal captain Cesc Fabregas have receded after it was revealed that the club is 400 million pounds in debt - the biggest in the club’s history.

The Arsenal captain was close to rejoining Barca this summer. The Gunners held on to the Spanish star and it was widely expected the Catalans would come back for the midfielder at the end of the season, The Sun reports.

Despite attracting close on 100,000 pounds on a regular basis at the Nou Camp, Barca’s debts have mounted.

But president Sandro Rosell said: “The club isn’t bankrupt.”

He added: “We have everything in place to impose a policy to make savings in unnecessary areas and meet important commitments such as paying wages.”

Club insiders say the investment needed to buy Fabregas is out of the question given the current financial crisis. (ANI)