Real Madrid, Barcelona Responsible For 28% Of LFP Clubs' €2.76B Collective Debt

The Spanish Football League's (LFP) publication on Wednesday of its financial results from the '13-14 season "also included figures from the two prior seasons for comparison and to highlight the improvement since Javier Tebas took over as president in April '13," according to Alfredo Matilla of AS. Of the total of €2.76B that La Liga and second division clubs owe to creditors and to Spain's tax authorities, 27.8% of that debt -- €767M -- belongs to Real Madrid and Barcelona. A year ago, LFP clubs' collective debt was at €2.92M, with Real and Barça owing €769M. Two years ago, of the collective sum of €3.3B, Real and Barça owed €884M. These numbers indicate that, "on one hand, the situation has improved, and on the other, that it remains a major problem." The LFP said in Oct. '13 that its objective was to reduce the collective debt to €2.4B in '14 and to €2B by '17 (AS, 4/2).