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SBD Global/May 23, 2013/Finance

LFP President Javier Tebas Vows To Help, But Tax Agency Will Decide Xerex's Fate

Spanish Football League (LFP) President Javier Tebas has assured that "the future of La Liga Xerex depends on negotiations with the Spanish Tax Agency. If this subject is not resolved, there is no future viability," according to AS. Tebas: "Xerex is working on Plan B, as President Rafael Mateos has decided, but everything depends on the Hacienda (Spain's Tax Authority). If there's no resolution, they will have to liquidate." The club's Plan B involves a presentation to the Hacienda that would show that investments have fallen, that advertising has disappeared and that the economic situation in general is what it is. Tebas said, "The LFP will do everything possible to help Xerex with its problem with the Tax Agency. It all depends on the Tax Agency. Xerex needs an increase in capital, only this, but by mid-June it will have to have its future clear. It can't be delayed further" (AS, 5/22).
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