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SBD Global/April 24, 2013/Finance

Spanish Basketball Club Uxúe Bilbao Will Be Able To Pay Off $4.8M Debt

The Diputación Foral de Bizkaia will save Spanish basketball club Uxúe Bilbao with a contribution of €5.2M ($6.8M), according to Alfonso Herrán of AS. Uxúe is being given the money so it can avoid disappearing, but €3.7M ($4.8M) will be used to pay off the club's debt to the Hacienda (Spain's IRS). After paying off its debt, Uxúe will have €1.5M ($2M) remaining (AS, 4/23).
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