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SBD Global/November 19, 2013/Finance

La Liga Real Valladolid's Agreement Plan May Free Club From Administration By January

La Liga side Real Valladolid President Carlos Suárez has submitted an "agreement plan" with more than 300 creditors to "local courts in the city, which may see the club come out of financial administration" as early as January, according to INSIDE SPANISH FOOTBALL. Local reports indicate that many of the "individual debts have been reduced by as much as 80%," and if "more than half of the creditors agree to the repayment plan outlined by the club, they will be able to successfully bring the club out of administration, pending final hearings in court." Once a legal ruling has been made, "current projections are that the club will exit financial administration in January," with less than €50M ($67.6M) in debt, along with "fixed repayment plans in place over a period of 8 years." Creditors have until Jan. 8 to forward "any objections, though current indications are that the majority already view the secured repayment plan favourably" (INSIDE SPANISH FOOTBALL, 11/18).
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