Image: Camp Nou accommodates 98,787 spectators

Spain-based FC Barcelona has said the refurbishment of its Camp Nou home has been put "on hold", despite reporting record profits of EUR40m (£32m) for the 2011-12 season.

President Sandro Rosell said the surplus funds would be allocated to paying down club debts of EUR340m (£272m). The profit follows two successive years of financial losses.

With regards to the proposed renovation of Camp Nou, Rosell said it was a scheme that is still being pursued although it "can't happen until we reduce our debt".

Rosell also confirmed that members of FC Barcelona will be given the chance to decide on whether to refurbish Camp Nou or to develop a new stadium through a future referendum.

"The decision to build a new stadium or renovate the Camp Nou is one we have to live with for the rest of our lives and it needs to be made by the club members," said Rosell.

Details: www.fcbarcelona.com

Image: Will Palmer