Spanish Football League President Javier Tebas Addresses League's Combined $4.9B Debt
Spanish Football League (LFP) President Javier Tebas said that league management "will not allow the extent of debt that clubs have accumulated in recent years," according to MARCA. Tebas highlighted that "last season, teams reduced their debts by 12%." Tebas: "We are being very vigilant with our debt control." The LFP president also confirmed that "stadium attendance is improving with respect to the previous season, as this year attendance only decreased by 2.3%." Tebas: "The majority of teams have reduced the price of season tickets." This is "translating to more spectators at games, despite late schedules established by TV channels, whose contracts produce more than half of clubs' revenues" (MARCA, 10/21).
LFP DEFENDS REAL MADRID: SOCCEREX reported the LFP confirmed reports that Real Madrid's debt stands at €541M ($739.6M), but "moved to defend the club's status by stating it has 'excellent financial management.'" Real Madrid’s financial standing "has hit the headlines in recent weeks after a fans group claimed that president Florentino Perez is hiding the real size of the club’s debts." The LFP has now confirmed the club's debt level, but has "stated its conviction that Real has the income-generating ability to manage this debt." The LFP added, "The club has the capacity to deal with the debt and the figures show that Madrid is economically solvent, within the economic controls established." The LFP said that Real and FC Barcelona account for €900M ($1.2B) of Spanish professional clubs’ total €3.6B ($4.9B) debt, "as of July 30, 2012" (SOCCEREX, 10/21).