Wanda Group Eyes Stake In AC Milan Hangin' With ... Magnus Danielsson Bitburger Unhappy With FIFA Decision Bundesliga Increases Betting Income Etihad Stadium Ready For A-League Cycling Race Forced To Withdraw Poster Basketball ACT Puts Upgrade On Hold Ladbrokes Fans Take On Digital Role Executive Transactions FIVB Partners With Red Bull Joint Venture
SBD Global/October 22, 2013/FinancePrint All
Ligue 1 Girondins de Bordeaux board member and President of broadcaster M6, the majority shareholder of the club, Nicolas de Tavernost said that "should the negative signals toward football in regards to a 75% tax continue, we would reconsider our investment in football," according to the AFP. De Tavernost said, "It's a fact, not a threat. For our club, this tax would mean an estimated €6 million ($8.2M) over two years that will be sorely missed in Girondins' funding." He added, "This is a bad sign we are sending to industrial investors, professionals" (AFP, 10/21).
Spanish Football League (LFP) President Javier Tebas said that league management "will not allow the extent of debt that clubs have accumulated in recent years," according to MARCA. Tebas highlighted that "last season, teams reduced their debts by 12%." Tebas: "We are being very vigilant with our debt control." The LFP president also confirmed that "stadium attendance is improving with respect to the previous season, as this year attendance only decreased by 2.3%." Tebas: "The majority of teams have reduced the price of season tickets." This is "translating to more spectators at games, despite late schedules established by TV channels, whose contracts produce more than half of clubs' revenues" (MARCA, 10/21).
LFP DEFENDS REAL MADRID: SOCCEREX reported the LFP confirmed reports that Real Madrid's debt stands at €541M ($739.6M), but "moved to defend the club's status by stating it has 'excellent financial management.'" Real Madrid’s financial standing "has hit the headlines in recent weeks after a fans group claimed that president Florentino Perez is hiding the real size of the club’s debts." The LFP has now confirmed the club's debt level, but has "stated its conviction that Real has the income-generating ability to manage this debt." The LFP added, "The club has the capacity to deal with the debt and the figures show that Madrid is economically solvent, within the economic controls established." The LFP said that Real and FC Barcelona account for €900M ($1.2B) of Spanish professional clubs’ total €3.6B ($4.9B) debt, "as of July 30, 2012" (SOCCEREX, 10/21).