Menu
Franchises

Spanish Club Elche Makes $3.2M Payment Before Deadline To Avoid Relegation

Spanish football club Elche will play in the Spanish second division next season after making a €2.9M ($3.2M) cash payment to the Spanish tax authorities on Friday, according to FOOTBALL ESPANA. A statement on the Spanish Football League's (LFP) official website "broke on Friday evening, confirming the news." Marca reported a €2.9M payment was made to the tax office, consisting of "donations from local businessmen and supporters, the latter of whom had their membership fees advanced." The other €1M ($1.1M), owed to players, "was also written off by the players following an agreement with the AFE." Finally, Elche agreed to an extension with the tax authorities to "delay payment of income tax until September" (FOOTBALL ESPANA, 7/31). ESPN's Sid Lowe reported Elche had little more than 36 hours to save itself, "and in the end, they did so with six hours to spare." It was just after 6pm on Friday when Elche announced that next season it will play in the Segunda Division. The league had confirmed it and outside the stadium, "a group of relieved fans let off fireworks, celebrating." Elche, Spain Mayor Carlos González, who had "led the rescue team working against the clock," called it "quite a feat." If the team did not raise the money by the deadline, it would be relegated to the Segunda Division B, Spain's regionalized third tier, "where 80 teams are spread across four divisions, where there's virtually no money and where there's no longer direct promotion back up again" (ESPN, 8/1).

SBJ Morning Buzzcast: May 3, 2024

Seismic change coming for NCAA? Churchill Downs rolls out major premium build out and Jeff Pash, a key advisor to Roger Goodell, steps down

Learfield's Cory Moss, MASN/ESPN's Ben McDonald, and Canelo

On this week’s pod, SBJ’s Austin Karp has two Big Get interviews. The first is with Learfield's Cory Moss as he talks about his company’s collaboration on EA Sports College Football. Later in the show, we hear from MASN/ESPN baseball analyst Ben McDonald on how he sees the college and professional baseball scene shaking out. SBJ’s Adam Stern shares his thoughts on the upcoming Canelo-Mungia bout on Prime Video and DAZN.

SBJ I Factor: Molly Mazzolini

SBJ I Factor features an interview with Molly Mazzolini. Elevate's Senior Operating Advisor – Design + Strategic Alliances chats with SBJ’s Ross Nethery about the power of taking chances. Mazzolini is a member of the SBJ Game Changers Class of 2016. She shares stories of her career including co-founding sports design consultancy Infinite Scale career journey and how a chance encounter while working at a stationery store launched her career in the sports industry. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2015/08/03/Franchises/Elche.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2015/08/03/Franchises/Elche.aspx

CLOSE