Spanish Basketball League Club Joventut Reaches Agreement With Tax Authorities

Spanish Basketball League (ACB) club Joventut on Thursday announced that it "signed an agreement with the Spanish tax authorities to refinance its debt," according to MARCA. It was reported in December that the club owed €750,000 ($809,000). This resulted in the tax authorities lifting "the embargo instituted more than one year ago and Joventut will be able to return the money it owes over an eight-year period." The two parties "had been negotiating for months, and finally were able to reach an agreement." The deal "arrived after the club sold land to allow it to pay part of its debt." Now, "Joventut must come to agreements with banks and the local city council" (MARCA, 2/2).