Spanish Football League Announces Clubs' Debt Has Dropped To €2.76B

The Spanish Football League (LFP) on Wednesday announced that clubs in La Liga and the Spanish second division owed a total of more than €2.76B -- to Spain's tax authorities and to creditors -- as of the end of the '13-14 season, according to the EFE. A report released by the LFP containing financial information from the '11-12, '12-13 and '13-14 seasons showed that in that time, collective debt dropped by 16%, from €3.3B after the '11-12 season to €2.76B after last year. At the same time, the amount clubs owed to Spain's tax authorities dropped from €634.6M after the '12-13 season to €496M after '13-14. Total revenue in '13-14 reached €2.33B -- €2.17B by La Liga clubs and €158M by second division clubs -- up 5.4% from '13. Of that revenue, €844M came from TV rights, including money clubs earned from European competition. Total revenue from the sale of players was €268M, a 92.3% increase from the previous year (EFE, 4/1).