Barcelona's president stands aside

Barcelona's interim president, Enric Reyna, and the entire board of directors have resigned, paving the way for the troubled Catalan club to elect a new president.

The resignation en masse was ratified at an assembly of club members. In his final act in charge, Reyna revealed that the club's total debt stood at €98m (£69m) but said that the figure would be reduced to about €47m by the end of June.

A provisional body will take over and set a date for the election, probably in June. The advertising executive Lluis Bassat, who lost to Joan Gaspart in the race for the presidency in 2000, is one of several "pre-candidates" already jostling for position in the campaign.

Barcelona have been in flux since Josep Lluis Nuñez stepped down after 22 years as president in 2000. Under Gaspart, the club appointed four different coaches but failed to win a single trophy. They are currently in eighth place in the Spanish top-flight, battling for a place in next season's Uefa Cup but with no hope of making the Champions' League next term.

Champions' League or not, the club still have massive financial muscle. Back in 1999, they signed an agreement with the satellite platform Via Digital for the rights to all their matches from 2003 to 2008. The deal is worth more than €60m per season.