Menu
Franchises

Spanish Club Elche Makes $3.2M Payment Before Deadline To Avoid Relegation

Spanish football club Elche will play in the Spanish second division next season after making a €2.9M ($3.2M) cash payment to the Spanish tax authorities on Friday, according to FOOTBALL ESPANA. A statement on the Spanish Football League's (LFP) official website "broke on Friday evening, confirming the news." Marca reported a €2.9M payment was made to the tax office, consisting of "donations from local businessmen and supporters, the latter of whom had their membership fees advanced." The other €1M ($1.1M), owed to players, "was also written off by the players following an agreement with the AFE." Finally, Elche agreed to an extension with the tax authorities to "delay payment of income tax until September" (FOOTBALL ESPANA, 7/31). ESPN's Sid Lowe reported Elche had little more than 36 hours to save itself, "and in the end, they did so with six hours to spare." It was just after 6pm on Friday when Elche announced that next season it will play in the Segunda Division. The league had confirmed it and outside the stadium, "a group of relieved fans let off fireworks, celebrating." Elche, Spain Mayor Carlos González, who had "led the rescue team working against the clock," called it "quite a feat." If the team did not raise the money by the deadline, it would be relegated to the Segunda Division B, Spain's regionalized third tier, "where 80 teams are spread across four divisions, where there's virtually no money and where there's no longer direct promotion back up again" (ESPN, 8/1).

SBJ Morning Buzzcast: May 13, 2024

Upfront week and sports is grabbing more of the pie; Why the WNBA going to Toronto is important; San Diego continues to be a baseball town

Phoenix Mercury/NBC’s Cindy Brunson, NBA Media Deal, Network Upfronts

On this week’s pod, SBJ’s Austin Karp chats with SBJ NBA writer Tom Friend about the pending NBA media Deal. Cindy Brunson of NBC and Phoenix Mercury is our Big Get this week. The sports broadcasting pioneer talks the upcoming WNBA season. Later in the show, SBJ media writer Mollie Cahillane gets us set for the upcoming network upfronts.

SBJ I Factor: Molly Mazzolini

SBJ I Factor features an interview with Molly Mazzolini. Elevate's Senior Operating Advisor – Design + Strategic Alliances chats with SBJ’s Ross Nethery about the power of taking chances. Mazzolini is a member of the SBJ Game Changers Class of 2016. She shares stories of her career including co-founding sports design consultancy Infinite Scale career journey and how a chance encounter while working at a stationery store launched her career in the sports industry. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2015/08/03/Franchises/Elche.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2015/08/03/Franchises/Elche.aspx

CLOSE