Spanish Club Osasuna Owes Banks, Various Parties Sum Of More Than $136M

Spanish football club Osasuna, which has been relegated to the Spanish second division for next season, has debt "that has increased to the point that the situation has become unsustainable, with bankruptcy a possibility," according to Esparza & Ciordia of DIARIO DE NAVARRA.The club owes a total of more than €100M ($136M) to Spanish tax authorities, banks, current and former players and the Osasuna Foundation. Every September, "Osasuna presents its financial information to its members, but the numbers had never ended up being clear in the past." Osasuna will be "unable to recoup the necessary money needed to right the ship while living off of Segunda Division TV rights and will likely be forced to sell of players and file for bankruptcy before the final option, selling the club itself" (DIARIO DE NAVARRA, 5/26).