That Spain is at the moment a financial chaos is of course well-known, but probably people haven’t stopped to think about how this is affecting sports, and specially football.
Marca.com publishes today that the clubs playing at Primera and Segunda leagues have debts that exceed €4,000 millions.
For this reason, the Spanish Consejo Superior de Deportes (Sports Superior Board) want to reduce the debt up to €3,000 millions by 2016, something that seems difficult as the numbers have increased in the last years around 300%.
What’s going on in Spain’s football clubs? Why don’t they cut back as the rest of the organizations and people in general? If things carry on in this way who knows if this sport can survive to such debts. But don’t be panic-monger, the Consejo Superior de Deportes is already taking decisions in order to lower the numbers.
Next La Liga and Segunda season this Board will get bigger its financial regulation over the clubs. Next 2013-14 season is expected to be the cutback Liga ever seen, at least is what Miguel Cardenal, CSD’s president announced yesterday. He introduced a financial-economical evaluation about Spain’s football between 1999 and 2011 made by clubs’s yearly audits.
So now figures are settled; from €4,000 to €3,000 millions in 3 years time, which means 300 per season. Clubs will have to adjust their budget every season by cut back €100 millions per year, another €100 millions on abroad players’ transfers and €100 millions more on foreign capital like investment funds. In total, €300 millions per season.
According to this Board, results are already coming and a first estimation from season 2012-12 has shown debts are now €150 millions lower, which means €300 millions could be perfectly reached.
In current Spain’s situation, do you really think teams should spend so much millions on players’ transfers, for example?