Curling Federation Set To Lose Funding Fabio Cannavaro Faces Tax Investigation HK To Kick Off New Reward System ACB To Be Carried In 117 Countries French Sports Minister Wants Ligue 1 Reduced Deportivo Quito Settles Its Debt Ecclestone Considering F1 GP In Madrid Sarajevo's KK Bosna 'Freezes' Activity PSG's Biggest Revenue Stream Is 'Other' Adidas Mulling Reebok Sale
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
Upcoming Conferences and Events
SBD Global/June 7, 2013/Finance
Spanish Football League President Could Reduce His Salary To Help League Finances
Published June 7, 2013
DEPORTIVO BEGINS LIQUIDATION: In Madrid, Sara Massa wrote Spanish second division side Deportivo La Coruña has been relegated from La Liga just one season after securing promotion by winning the second division. The club "is facing many problems, economically above all." Club President Augusto César Lendoiro has assured that his team will remain viable despite relegation, but "with the club in administration, Deportivo will have to adjust its budget, starting from zero with the roster and supporting itself with its best asset -- its fan base." Deportivo's exact budget for next season "remains unknown," but the club recognizes there will be a "drastic reduction." Bankruptcy Law will "force Deportivo to rebuild the team from the bottom 'to fight to be in a position for promotion.'" The club's coach, Fernando Vásquez, "is known for getting the best performance from low-level rosters and as a connoisseur of youth talent, two essential characteristics for the new Deportivo." In total, 14 players have contracts that are ending (EL CONFIDENCIAL, 6/6).