La Liga Side Espanyol To Announce Financial Losses For Second Straight Year

La Liga side Espanyol shareholders now have the financial accounts for the year from July '14 through June, which the club will present at a shareholders assembly on Dec. 22, according to Alberto Martínez of AS. The numbers "are not very encouraging" and strengthen the idea that the investment by Rastar Group "is more than necessary for the viability of the club." Espanyol posted losses for the second consecutive year. The negative balance in Dec. '14 was €111,306, and the one that will be announced on Dec. 22 will be €365,000 ($393,000). The majority of the club's sales of players this summer "are not included in this exercise," as they took effect in July. Espanyol's net debt dropped by just less than €1M ($1.08M), from €134.3M a year ago to €133M ($143.2M). The gross debt, however, has increased to €191M ($206M) (AS, 11/13).