Spain’s 42 professional football clubs and their players will this season contribute €1.3B ($1.5B) in tax payments to the country's tax system. La Liga President Javier Tebas announced the sum Spanish football will contribute during the World Football Summit (EFE, 9/24).
AC Milan announced the early repayment of two bonds worth a total of €128M ($150.6M) issued by former Owner Yonghong Li. The Chinese businessman issued the two bonds to repay the €73M ($85.9M) shareholder loan granted by Rossoneri Sport Investment Lux and fund transfer activity. He was ousted by U.S. hedge fund Elliott Management, and it was announced that the bonds have been repaid, "effectively clearing the financial debt" (FOOTBALL ITALIA, 9/25).
Saudi investor and Egyptian Premier League side Pyramids Owner Turki Al-Sheikh decided to "stop investing in Egypt," the club's official TV Channel announced. The channel reported "Al-Sheikh has definitively decided to pull out of investing in Egypt. He will provide professional contracts for the team players as well as the staff of the [Pyramids] TV Channel." Al-Sheikh tweeted, "A strange attack from all sides and every day there is an issue [to deal with]. Why the headache?" (AHRAM ONLINE, 9/25).
