Real Betis Has Reduced Debt To Creditors From €91M To Just €17M

The amount of debt La Liga side Real Betis owes to its creditors "no longer represents an impediment to the team's competitiveness," according to González & Morán of MARCA. Of the debt of €90.7M established in the report by the club's bankruptcy administrators, it only has €16.54M ($17.62M) left to pay. The club also liquidated all its debt to Spain's tax authorities on July 31, and has paid off another €18.76M ($20M) to the corresponding creditors. The clearing of the debt to the tax authorities "is particularly relevant," as it allows Betis to be free of the charges established on the stadium and its players. Until this summer, the club "was forced to spend 25% of the money earned from the sale of every player on liquidating its debt to the tax authorities" (MARCA, 11/18).