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SBD Global/December 10, 2013/Finance

La Liga Side Villarreal President Reveals '12-13 Losses, Budget For Current Season

La Liga side Villarreal President Fernando Roig "has reviewed his team's financial situation," according to the EFE. Roig said that Villarreal "does not owe anyone any money and is healthy, in terms of both the sporting and economic areas." Roig also "revealed the team's budget from the previous season as well as the current campaign." Villarreal posted a loss of €35.6M during the '12-13 season. The club announced that it will "compensate for the losses by reducing social capital, and this is how it will clear its debt." The team's budget for the current season was revealed to be €49.7M ($68M). Roig said, "We had a loss last year. We had to maintain our economic level after relegation and maintain the club's structure. Revenue was not the same, and because of this, there was a loss" (EFE, 12/9).
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