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SBD Global/June 19, 2013/Finance

After 90 Years, 12 In La Liga, UD Salamanca Liquidates Due To Financial Trouble

Spanish football club Unión Deportiva Salamanca, which was this year celebrating its 90th anniversary, ceased to exist on Tuesday morning, according to INSIDE SPANISH FOOTBALL. The club had "been in administration for some considerable time." Due to "crippling debts," Salamanca, which spent twelve seasons in La Liga, most recently in '98-99, "was officially wound up at a court hearing." Salamanca was relegated from the Spanish second division at the end of the '10-11 season (INSIDE SPANISH FOOTBALL, 6/18). In Madrid, Cayetano Ros reported former Salamanca coach Juanma Lillo said, "It is a pain, of course, but they were warning us in recent years." The club's Twitter account said, "Today is the saddest day in our 90-year history. We are in each of your tears. We will live forever in your hearts." A meeting of creditors on Tuesday did not reach an agreement, so the club proceeded to open the liquidation phase under €23M ($30.8M) in debt (EL PAIS, 6/18).
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