(CNN) -- Barcelona president Sandro Rosell has admitted that the proposed transfer of Spanish midfielder Cesc Fabregas from Arsenal is now in doubt.
Premier League Arsenal are desperate to retain the services of Fabregas and have placed a big price tag on their talisman which may make the Catalan giants think twice about signing him.
"The transfer of Cesc is becoming more complicated because there are a lot of expectations on the side of the sellers and that is not good news for Barcelona," AFP quoted Rosell from Catalian radio station RAC1 on Tuesday.
The Spanish champions have just splashed out nearly $50 million for Valencia's star striker David Villa and Rosell told the club's official website that the club's finances needed to be reviewed.
He unveiled a $184 million syndicated credit deal to help cut their debts and also admitted that they were still chasing money owed by their TV rights holders Mediapro, which has gone receivership.
Barcelona have also been forced to recoup $18.4 million by the sale of Ukrainian defender Dmytro Chygrynskiy to his old club Shakhtar Donetsk.
It is $12.29 million less than Shakhtar received from Barca when he was transferred last year.
Chygrynskiy, who has 24 caps for Ukraine, joined Barca on a five-year contract but did not impress and played just 14 times.
Barcelona have already banked nearly $30 million from the sale last week of Ivorian midfielder Yaya Toure to English Premier League side Manchester City.
Rosell told the website that the club's fans should not be concerned by the situation.
"The club isn't bankrupt," he said.
"This week we'll have everything in place to impose a policy of austerity to be able to make savings in unnecessary areas and meet very important commitments such as paying the wages of our players, coaches and employees."
Barcelona retained the Spanish Primera Liga title last season, but lost in the semifinals of the Champions League to eventual winners Inter Milan.