Spanish Football Clubs Reduce Combined Debt To Tax Authorities By €200M, Report Shows

Spanish professional football clubs reduced their debt to Spanish tax authorities by more than €200M during the '12-13 season, as clubs obtained a profit of €106M and decreased spending by 7%, according to the EFE. Spanish Superior Sports Council (CSD) President Miguel Cardenal "released the figures on Wednesday at an informative meeting where he explained the financial situation of Spanish football through a report on audits corresponding to the '12-13 season." The collective debt of Spanish professional clubs is now €3.6B ($5B) after a reduction of €200M (5%). Cardenal "expressed his satisfaction because the tendency is changing" after there was a debt of more than €4B. In addition to the 7% decrease in clubs' spending during the period reviewed, the amount spent on salaries dropped by 2.3%. Cardenal: "The system of economic control is working well, and we are quite satisfied with the result" (EFE, 5/7).