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SBD Global/September 17, 2013/Finance

Spanish Football Federation To Forego Government Subsidy For Third Straight Year

The Spanish football federation (RFEF), "flush with cash after the national team's phenomenal run in recent years, intends to forego its state subsidy for the third year in a row in 2014," according to Iain Rogers of REUTERS. The world and European champions "have a host of corporate sponsors" including German apparel maker adidas, energy company Iberdrola, Movistar, the mobile phone unit of telecoms operator Telefonica, and carmaker Nissan. However, the RFEF's latest gesture, which needs approval from the board of directors, means that "it will have turned down" less than €5M ($6.68M) "it was entitled to" for '12, '13 and '14, according to the government sports council. Secretary of State for Sport Miguel Cardenal said, "It's yet another thoughtful gesture from (RFEF president) Angel Villar, whom I again thank personally for the sensitivity he has shown in these times when the rest of the federations need help" (REUTERS, 9/16).
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