Finance Notes: Spanish Clubs Cut Debt With Social Security From $13.2M To $6.8M
The debt of Spanish football clubs "remains, but little by little, clubs are meeting their objectives." The total debt of the "clubs and Sports Limited Companies in Spain" with Spain's Social Security was €6.8M ($9.2M) on June 30. In Jan. '12, this figure was at €13.2M. The Social Security debt has "decreased since that time" by €6.4M (EL CONFIDENCIAL, 11/13). ... London’s main index was "off more than half a per cent at the open on Wednesday, led by British Sky Broadcasting as investors continued to take a dim view of its prospects following the loss of Champions League football rights to its rival BT." Sky shares "were the biggest fallers" -- down 3% at 815p. Shares in BT Group, which reported on Saturday it had successfully bid £900M ($1.4B) for exclusive rights to European club football competitions, "were flat" at 377.1p (FINANCIAL TIMES, 11/13).