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SBD Global/August 1, 2013/Finance

Spanish Second Division Side Mirandés Makes Payment Deadline To Avoid Relegation

Spanish second division side Mirandés has "assured it will remain in the second division" after covering the amount of capital demanded by the Spanish Superior Sports Council (CSD) and completing its conversion to an Anonymous Sports Society (SAD) minutes before the deadline, according to EL MUNDO. Just minutes before the club's 11:59pm deadline last night, at 11:57pm, Mirandés was able to gather the €1.3M ($1.7M) it needed, "thanks to personal contributions from various club leaders, players and local businessman Alfredo de Miguel." It all "happened with urgency after the contribution promised by local businessman Vicente España did not arrive on time." For more than five hours, "the comings and goings at the club office were constant and several players and businessmen passed through to try to contribute the remaining capital needed" (EL MUNDO, 7/31).
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