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La Liga Champion Atlético Madrid Cuts Debt By $115M Since Beginning Of The Year

La Liga side Atlético Madrid has been "battling a long-standing debt issue in the midst of their success," according to INSIDE SPANISH FOOTBALL. The club has been running debts of around €200M ($257M) over the last five years, but from Oct.1, "this figure will be settled" to around €80M ($103M) -- a highly important reduction for Atlético. Since '14, Atlético has already paid €90M ($115M) to the Treasury and by Dec. 31 of this year, it hopes to be able to pay another €25M ($32M) on top of that. The club’s ambition "is to wipe out the debt" by '17. Atlético fielded a profit of €2M last season, which "was a boost for the club in the fact they didn’t lose any money." Due to the club's successful season in '13-14, it also meant that "the club’s overall wage bill had to be increased, in an attempt to fend off interest from bigger European clubs for their assets." The board also "handed out bonuses for the players, said to be in the overall region" of around €14M ($18M) (INSIDE SPANISH FOOTBALL, 9/20).

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