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SBD Global/July 9, 2013/Franchises

Spanish Club Racing Santander Pays $514,000, Will Compete In Spanish Third Division

Spanish football club Racing Santander has deposited the €400,000 ($514,000) guarantee demanded by the Spanish Football Federation (RFEF) for the club to join the Spanish third division -- second division B, according to the EFE. The payment followed the Spanish Discipline Committee's (CEDD) ratification of the club's relegation on Friday. Racing Santander explained in a letter that "it was given three days to make the payment, a very short period of time considering two of those days were during the weekend." After learning the appeal had been denied, Racing "had been concentrated on getting together the money essential to being able to compete" (EFE, 7/8). The EFE also reported former Racing Santander players Quique Setién, Francisco Liaño, Pedro Munitis, José Ceballos y José Moratón on Monday offered to manage Racing "with maximum dedication." The former players "also demanded in a press conference the immediate resignation of the current Administrative Council, so if there is an increase in capital, the process will be clean and transparent." The former players "are working on a solution that would, in their opinions, be accepted by all Racing supporters, keep the club alive and offer creditors a more optimistic outlook than the club's current situation" (EFE, 7/8).
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