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SBD Global/July 4, 2013/Finance

Spanish Second Division Side Mallorca Cuts Budget Following Relegation

Spanish second division side Mallorca on Wednesday confirmed that it will reduce its budget for its roster from €22M ($28.6M) to €9M ($11.7M) to prepare for next season, and it will "extend this measure of decreased spending to each of the club's departments," according to the EFE. Mallorca, which was recently relegated from La Liga, has announced the departure of five players and has presented to the club's business committee "measures related to reducing salaries, increasing the length of the workday and changing schedules for the rest of employees" (EFE, 7/3).
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