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Volume 10 No. 24
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La Liga Side Valencia Announces Losses Of €27M During '16-17 Financial Year

La Liga side Valencia's administrative council reported losses of €27M during the '16-17 financial year and set a budget of €92M ($107.3M) for the '17-18 year, according to the EFE. For the first time, "the club prevented media from attending the meeting." Shareholders "congratulated the club" for hiring Dir General Mateu Alemany and Manager Marcelino García Toral, "but some expressed concern regarding the editorial the club published on its website on Wednesday." There "were also criticisms of the club 'puffing out its chest' just 11 games into the season and after two mediocre years" (EFE, 11/10).