Sandro Rosell has resigned as president of Barcelona with immediate effect. Rosell made the announcement at a press conference last night following an extraordinary board meeting.

Rosell also named vice-president Josep Maria Bartomeu as his successor as president until 2016.

The decision comes after Spanish national court judge Pablo Ruz this week accepted a lawsuit that alleges Rosell misappropriated funds from the signing of striker Neymar from Santos last June.

Barcelona club member Jordi Cases has alleged that the amount paid was more than the €57 million fee reported at the time.

“In recent days an unfair and reckless accusation of misappropriation has resulted in a lawsuit against me in the Audiencia Nacional. From the beginning I have said that the signing of Neymar has been correct and his signing has caused despair and envy in some of our adversaries,” he said.

“The board of directors is a team. And this team leads a project that has brought the club great success. I don’t want unfair attacks to negatively affect their management or the image of the club. This is why I think my time here has come to an end.

“Now, in accordance with the club’s statutes, I have presented my irrevocable resignation.”