La Liga Side Elche Receives $25.5M Loan From Unnamed Investment Firm

La Liga side Elche has reached an agreement with an investment firm that will inject €20.5M ($25.5M) into the club, according to M.H. Marcos of AS. Elche President José Sepulcre did "not reveal the identity of the investment firm due to what he called a 'confidentiality clause' in the contract." Of the sum, Elche will spend €12.5M ($15.6M) in the short term to pay off debt. The club will spend the rest "on its future complex, with which Elche will hope to obtain added resources for its viability." Sepulcre said that the repayment period on the loan will take 15 years, at an interest rate of less than 5%. The funds will allow Elche to avoid bankruptcy proceedings and pay its debts. Spanish Football League (LFP) President Javier Tebas had said that his concern with Elche was that the club's debt was "unstructured" (AS, 11/16).