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.
"We found a club in debt, with liquidity problems. At this point we have to take a loan to pay the wages of the players," he told Sport.
But Rosell said Barca can still afford Arsenal midfielder Cesc Fabregas.
Barca recently sold defender Dmitro Chygrynskiy to Shakhtar Donetsk for about £12.5m to help raise much-needed funds, even though coach Pep Guardiola had been keen to keep him.
They also sold Ivory Coast international Yaya Toure to Manchester City for about £20m.
However, Rosell has moved to reassure worried fans that Barca's problems are under control and that the process of securing a loan had already started under the previous board...