Relegation Could Result In $32M Loss COB Pays R$23M For 2007 Pan Games EPL Newcastle's Bank Balance Revealed Flamengo Members Contribute R$30M In '14 Villar Defends Former Las Rozas Mayor Countries Host Ryder Cup Inspections J.League Revenue Passes $100M Hamburg SV Unveils New Investor TLA Worldwide's Revenue Jumps 12% Porsche To Title Sponsor European Open
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).