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SBD Global/March 11, 2014/Finance

Spanish Football League President Says Clubs Are Following Financial Control Regulations

Spanish Football League (LFP) President Javier Tebas said on Monday that "La Liga and Spanish second division clubs will meet the requirements of the economic control measures established for the '13-14 season," according to the EFE. Tebas "shared this belief" with Spanish Socialist Workers' Party (PSOE) representative Emilio Alvarez and Gorka Alvarez of the Basque Nationalist Party (EAJ-PNV) during a meeting at the LFP's headquarters in Madrid. Tebas and LFP Dir General Javier Gómez indicated that the "amount of debt reduction this season by Spanish clubs" was around €100M ($139M) with respect to the initial sum of €750M ($1B). Both men insisted that "this was what they expected, without counting Real Madrid and Barcelona, and it will be reached." Tebas "justified the measures taken as another response for transparency and for clubs to know what is happening with all the other clubs" (EFE, 3/10).
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