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SBD Global/November 22, 2013/Finance

Spanish Superior Sports Council Supporting Online Store To Help Fight Financial Crisis

Spanish sport "is far from a 'Eureka!' moment," but has at least begun to "consider generating private revenue that would allow organizations to fill the enormous hole left by decreases in public subsidies in recent years," according to Amaya Iríbar of EL PAIS. One idea was presented at Tuesday's Spanish Superior Sports Council (CSD) meeting in front of "a number of presidents of both Olympic and non-Olympic federations." The proposal "involves www.federadosconeldeporte.com, a platform that started out directed toward 3.5 million athletes and now dreams of attracting the 12 million people in Spain who play sports without licenses." The website is an "online discount store where customers can buy anything from a vacation to a belt, but it goes further: it aims to become a new source of revenue for Spain's sports federations." The company behind the project, hibooboo, "has reached an agreement with nine large businesses and Spain's 61 sports federations." The money "can arrive in multiple forms." For example, some sponsors will "donate a percentage of what they sell through the site, and advertising revenue is also expected through exclusive promotions and commercial exploitation." The CSD has not given the initiative money, but is "aware of the economic problems of many of the federations" (EL PAIS, 11/20). 
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