 Liverpool's new manager Rafa Benítez is in
a legal battle with his old club Valencia after walking out with a year of his
contract still to run. The Spanish club is claiming €3 million in
compensation, whereas Benítez is making a counter-claim for €2.4
million for win bonuses and other emoluments which the club withheld when he
left. Both cases are likely to go to arbitration. (30.06.04) |
| Real Madrid's presidential elections take place
on 11th July, but it won't be easy for anyone to stand. Candidates have to put
up a bank guarantee to the value of €32.24 million, not within the reach
of your average Madrid supporter. So far three names have come to our
attention, current incumbent Florentino Pérez, ex president Lorenzo
Sanz, who is joining forces with another pre-candidate Carlos González,
and Arturo Baldasano, vice president of Teka and (we understand) a former
goalkeeper at the club. (26.06.04) |
| Alavés president Gonzalo Anton has put his
majority shareholding up for sale. After failing to win promotion back to the
first division, the local businessman has decided to hand over the reins to
someone else. Anton's idea has always been that the club (one of the most
financially healthy in the land) passes into the hands of the fans, although he
has apparently come to an underwriting agreement with a local company to buy
him out. (25.06.04) |
| Once again several clubs are in danger of being
relegated from the second division for non-payment of wages, and under league
rules, any side which has registered debts to players still owing by 31st July
will go down. Xerez for example are in a bad way, especially now that president
Gil Salgado has just resigned with the club owing €18 million to
creditors, including €2 million to staff. The latest press reports are
that Elche and Sporting are both trying to persuade their players to accept
extended payment terms, and others are expected to follow.
(24.06.04) |
| Salamanca are studying a viability plan with the
local city council which will ensure their survival for the future. The idea is
for the club to interchange part of their installations with building land
which will enable them to raise funds to clear their debts. (23.06.04)
|
| Newly promoted Getafe will also be getting a
helping hand from their local council, who will be setting aside €12
million to redevelop their ground, the "Coliseum Alfonso Pérez".
Improvements will include 3,000 new seats to increase the capacity to 20,000,
the covering of two stands, the refurbishing of press and VIP facilities and
two new training pitches. (23.06.04) |
| Logroñes, one of the league's oldest
clubs, may be able to save itself if it can reach an agreement to merge with
second division B neighbours Recreación de la Rioja. The Logroño
based side is on the verge of bankruptcy with debts of over €12 million.
(19.06.04) |
| The 17 surviving first division clubs have
decided to cut costs this summer. Only Athletic, Málaga, Osasuna, Racing
and Zaragoza have decided to start their pre-season training out of the
country. All the rest, including Real Madrid and Barcelona, will be spending
the first couple of weeks in training centres within the boundaries of Spain.
(12.06.04) |
| Real Madrid have signed a sponsorship deal with
BP which is reportedly worth around €20 million over the next three years.
The petrol company join Siemens, Audi, Adidas, Telefónica and Pepsi Cola
as international sponsors, and their name will appear on hoardings around the
ground in the future. (05.06.04) |
| Local businessman Bautista Soler has become the
majority shareholder of Valencia after buying up a package of shares held by ex
president Francisco Roig. Soler (73) made his money in the construction
business, and has arranged for his son Juan to be named one of the club's
vice-presidents. (04.06.04) |
| Real Madrid have agreed to pay €8 million to
Inter Milan as settlement of the "Solari" case. The player turned down a move
to the Italian club as part of the Ronaldo deal a couple of seasons ago, and
Madrid refused to pay the €10 million contracted compensation arguing that
Inter had not made a reasonable offer to the Argentine midfielder.
(03.06.04) |
| Espanyol's opposition group "3.0" are claiming
that the club is in technical bankruptcy after shareholders funds dropped from
€7.8 million to €160,298 in recent years under the presidency of
Daniel Sánchez Llibre. The group also say that current debts total
€62 million, whereas the club replied that the figure was only around
€34 million. (01.06.04) |
| The Athletic Bilbao players refused to go to
their end of season lunch as a sign of protest against their management. The
squad were unhappy that they had to accept a cut of 15% in their wages this
season and could not then reach an agreement over bonus payments, and the last
straw was the treatment dished out to veteran defender Larrazábal, who
they consider was treated unfairly when told his contract was not being renewed
after so many years at the club. (31.05.04) |
| Samuel Eto'o has been offered €250,000 to
play a maximum of four games for Qatari side Al Ittihad in the local cup final
and the Asian cup knock out rounds. (31.05.04) |
| Staying up has proved to be an expensive exercise
for Espanyol. As well as giving away thousands of tickets to fill the ground in
their last match, the ungrateful fans did damage after the match to seats,
goalposts etc. valued at around €12,000. The insurance company is expected
to cough up though. (29.05.04) |
| Facing a new season in the second division isn't
the only problem Valladolid are going to have this summer. Several players are
planning to denounce the club to the AFE for non-payment of wages, and if they
fail to settle by the end of July the team could be relegated to the second
division B. According to the club, outstanding debts total €2.4 million,
which is likely to be a bigger problem than last year as income from television
rights will drop from €8.4 million to €1.2 million next season as a
result of playing in the lower category. (28.05.04) |
| Xerez and their controversial president Gil
Salgado are in trouble yet again. The club are being taken to court several
former players and staff including their ex physical trainer who is claiming
€225,000 in severance pay, and the president is being sued by ex owner
Luis Oliver for non-payment of €700,000 which was part of the share sale
agreement between the two men. (26.05.04) |
| Deportivo La Coruña and Djalminha have
finally come to an agreement to settle amounts which the player owes to the
Spanish tax authority and to rescind the contract of the controversial
Brazilian midfielder. The club will put up a bank aval to the "Hacienda
Pública" for around one million euros to enable them to lift embargos on
the player's property, and Djalma will be a free agent to sign for another
club. However whilst the aval is still outstanding he will only be allowed to
join clubs outside of Spain, a condition imposed by Deportivo themselves in the
final settlement. (25.05.04) |
| Barcelona and their now ex midfielder Luis
Enrique have also reached an agreement for the club to pay a €168,000 fine
which the local tax authorities dished out to the player for maintaining an
account in Switzerland without including the details on his tax returns.
(25.05.04) |
| Second division B side Playas Jandía were
on the brink of pulling out of the promotion play-offs until a local
businessman offered to pay the air travel from the Canary Islands to the
mainland for the three matches. The players had already been close to refusing
to play the last league match due to the backlog of unpaid wage bills, and the
local government has contributed €36,000 to help pay for costs in their
fight for promotion. (19.05.04) |
| A study carried out by the University of Navarra
on Spanish league clubs estimated the market capitalization of Real Madrid at
€489 million, some €84 million higher than second ranked FC
Barcelona. Curiously the study was carried out based on figures from the
1999/2000 season, prior to the sale of Madrid's training ground which enabled
them to clear a huge mountain of debts. The professor who carried out the study
said that they would probably be worth a lot more by now. (14.05.04)
|
| Atlético Madrid's shareholders have
approved a reduction and subsequent increase in share capital, which will bring
an €18.7 million cash injection to the club from newly issued shares.
Majority shareholder Jesús Gil was unable to attend however, as was
rushed to hospital and is critically ill following a brain haemorrhage.
(12.05.04) |
| Real Madrid laid the first stone today of their
new "City of Real Madrid" training centre, which replaces their old "ciudad
deportiva". The complex occupies an area of 120 hectares in Valdebebas park
near the airport on the outskirts of the city, and comprises five football
pitches, a 7,500 seater mini-stadium, a gymnasium, a clinic, sports halls, a
conference centre, a residential hotel and offices. The installations are
expected to be in use sometime next year, although the full project will take a
year or so longer. (12.05.04) |
| Zaragoza are prepared to pay Atlético
Madrid a €160,000 penalty clause to enable Movilla to play for them in
next Saturday's clash between the two sides. The amount was set in a loan
agreement between the two clubs to dissuade the borrower from fielding the
player against his contractual employers, but their critical situation in the
league has forced them to pay up. (11.05.04) |
| No less than five Real Madrid players are in
France Football's list of the world's top ten highest paid footballers. The
magazine lists David Beckham (€22.4 Mio), Ronaldo (€16.5 Mio) and
Zidane (€14.0 Mio) in the first three positions, with Raúl
(€9.3 Mio) in seventh place and Figo (€8.5 Mio) tenth. The only other
Spanish based player was Barcelona's Ronaldinho (€10,0 Mio) in sixth spot.
(07.05.04) |
| Elche's president announced that their budget
will be cut from €7.2 million to €6 million next season to allow the
club to pay for reforms to their Martínez Valero stadium. A capital
increase is also foreseen in the near future. (05.05.04) |
| Deportivo La Coruña are hoping to make the
leap into the big time with their ambitious capital increase, which is being
put forward to shareholders this weekend. Club president César Agusto
Lendoiro is proposing to take share capital from €3 million up to €60
million to enable the club to compete with the likes of Real Madrid and
Barcelona. (30.04.04) |
| Sporting Gijón launched their capital
increase today. The club are trying to raise €14.9 million to alleviate
their financial position, and the possibility of promotion could attract new
investors. (29.04.04) |
| Ciudad Murcia's outgoing manager Juan José
Enriquez has accused his players of agreeing to a third party cash incentive
for them to beat Numancia last weekend. According to local press, the offer
came from Numancia's promotion rivals Levante, although the Valencia based club
strongly deny it and have threatened to take legal action if the accusations
continue. Had it ever existed, such an offer would however not have been paid
out as Ciudad lost the game. (28.04.04) |
| Outgoing Las Palmas president Manuel
García Navarro has a cunning plan. Copy what Tenerife are doing on the
neighbouring island, get the local council to give planning permission for the
land they own and build a leisure complex on it, thereby solving all their
financial problems in one sweep. It didn't get the best of receptions though.
García Navarro invited around 40 local businessmen to a meeting to
present the idea, but unfortunately not one of them turned up.
(27.04.04) |
| Mérida are back in trouble only four years
after the club went bankrupt and reformed in the third division. The new UD
Mérida won promotion to division 2B soon afterwards, but bad management
has left the club in difficulties again. Players and staff are having to look
for ways to raise funds (the usual nude calendars, signed shirt auctions etc.)
to compensate the more than five months back salaries they are due, and fans
have been washing kits and cleaning the stadium to help out. (23.04.04)
|
| The Spanish Footballers' Association (AFE)
decided in their annual general meeting that they will resist any attempt to
change the rules on automatic relegation for clubs who are not up to date with
their payments to players. The Spanish League (LFP) are trying to renegotiate
the labour agreement with the AFE in order to abolish the regulation which
penalizes clubs who have not met all their contractual obligations by the end
of the season. Oviedo, Compostela, Mérida, Burgos, Logroñes,
Granada and several others have been relegated for this reason in recent years.
(20.04.04) |
| Las Palmas president Manuel García Navarro
has had enough and will be handing in his notice and donating his shares in the
club to minor shareholders in the upcoming AGM. The club are next to bottom in
the league and are in dire straits financially, and new manager Henri Stambouli
has just resigned only a week after being appointed. (19.04.04) |
| It is a good job for FC Barcelona's finances that
they slowed down after scoring three in just over half an hour against
Málaga at the weekend. The club had agreed to give 3,000 euros to
charity for every goal they scored, and their finance director's face was
starting to turn purple as the first half progressed! (18.04.04) |
| Deportivo's Djalminha is in trouble with the tax
man again. The Brazilian star suffered a depression at the start of the season
when told he owed around one million euros to the state, and his lawyers are
now claiming that the club should be responsible for settling the debt.
(16.04.04) |
| Two of Spain's historical sides, Compostela and
Granada, are in danger of going out of existence. Both were relegated down the
divisions last year for failing to pay back wages, and their problems continue,
Compostela's players refusing to play their latest match and Granada's locking
themselves away in the club's offices in protest. (15.04.04) |
| Xerez president Gil Salgado once again failed to
comply with his promise. Last month he defused a dangerous situation promising
to pay the players the six months or so back wages they are due within the next
fourteen days, but once again he didn't come up with the goods.
(13.04.04) |
| The LFP have given a warning to a third of the 42
clubs in the top two divisions that they have to put their house in order.
Internal economic reviews were set up some time ago to police balance sheets in
line with the Sporting Companies Act, and shareholders' funds of no less than
14 clubs have fallen below 50% of their share capital. The offenders have been
asked to either increase capital or otherwise revalue their assets, and if they
fail to do so then they could have their transfer rights and other privileges
blocked. For those interested, the clubs concerned are Atlético,
Espanyol, Málaga, Murcia, Osasuna and Sevilla from the first division,
and Almería, Córdoba, Getafe, Las Palmas, Rayo Vallecano,
Sporting, Tenerife and Xerez from the second. (07.04.04) |
| The war between the big and small clubs appears
to be over after both sides reached an agreement in the general assembly of the
LFP. The rival groups G-12 and G-30 will cease to exist and new statutes have
been drawn up giving equal weight to the 20 first and 22 second division clubs
(first division clubs will have 1.1 votes each to compensate). Each division
will be responsible for their own internal matters (negotiation of TV rights
etc.), but the two will work together in order to improve the game at all
levels. (30.03.04) |
| Zaragoza have signed up an eight million euro
aval with the local Aragón government to guarantee their financial
stability in the future. (29.03.04) |
| Algeciras are bottom of the second division, but
not due to a lack of initiative from their players. The latest idea to come
from the squad was for them to each pay the club 450 euros for every defeat
from now to the end of the season. The amounts will be deducted from their
monthly payroll. (25.03.04) |
| The Spanish Football Federation (RFEF) have
withdrawn the licence of Sporting Gijón forward David Bauzá for
failing to pay his ex agent his commission on the player's transfer from
Badajoz. Bauzá claims that the agent was no longer representing him when
the move went through. (23.03.04) |
| Football in Spain generates over €8,000
million, around 1.7% of the GNP of the country, according to a study carried
out by the LFP. The organization claims that some 66,000 persons are employed
directly or indirectly in the sector, which contributed €821 million to
the coffers of the state in taxes, social security payments and takings from
the pools. (19.03.04) |
| Mallorca and Alavés amongst others will be
donating the takings of the next league matches to the victims of the Madrid
bombings. A friendly game is also being arranged, with a combined Real Madrid
and Atlético side taking on a selection of the best players in the
league. (18.03.04) |
| The Xerez players have finally reached an
agreement, verbal at least, that club president Gil Salgado will pay the back
salaries and wages due to them. Owing around €700,000, Gil will pay a
third in two weeks' time and the rest in instalments up to the end of the
season. The players have been protesting in public for weeks, and have even
appeared in front of the press in the nude. (17.03.04) |
| Darío Silva is claiming €350,000 from
Málaga, which he says they owe him from his time at the club. The South
coast side said that all debts were settled with the player when he was
transferred to Sevilla, although they still owe money to his old club
Fénix for the original transfer. (16.03.04) |
| Algeciras have decided to go ahead with their
conversion to a "sporting limited company" (SAD), even though this won't be
necessary if they are relegated back to the second division B. Meanwhile Ciudad
Murcia need to raise €2.5 million by the end of July to complete their
transformation to a SAD. (15.03.04) |
| Leganés may be having financial problems
after Daniel Grimbank pulled out, but they can at least count on their local
council. They agreed to renew the €600,000 annual grant which the club
have been receiving recently. (10.03.04) |
| The dispute between Derby County striker Manel
and his old club Espanyol has been settled in favour of the player by the
labour courts. The Catalans will have to pay him around €385,000 for
wrongful dismissal, more than half of the €600,000 which the forward had
initially claimed. (07.03.04) |
| Real Madrid are the fourth highest earners in the
world, according to the new Deloittes' ranking of the richest football clubs.
The Spanish club reported net income of €194.5 million, only bettered by
Manchester United, Juventus and AC Milan. Barcelona are 13th, with €124.7
million, and Valencia 20th with €81.3 million. (03.03.04) |
| Atlético Madrid want to follow in the
footsteps of Barcelona and secure a long term loan which will enable them to
clear their outstanding payments and give them the necessary funds to buy new
players. A capital increase of €16.5 million is also scheduled for the
near future. (01.03.04) |
| The row over Quique De Lucas has still not been
settled. Espanyol are claiming €1.8 million from Alavés for
transfer rights, but the Vitoria based club say they owe nothing as the player
spent a year at Chelsea in between. The RFEF have been unable to sort the
matter out, and have passed it on to a committee from the LFP and the players
union, the AFE. Meanwhile De Lucas is taking Chelsea to court for wrongful
dismissal, claiming the remaining three years of his contract as compensation.
(28.02.04) |
| A spokesman for the LFP denied that cash-strapped
Xerez had contacted them asking permission to sell their place in the second
division, and added that such a move would in any case not be possible under
the statutes of the league. (26.02.04) |
| Atlético Madrid will be renewing their
shirt sponsorship agreement with film company Columbia Tristar for next season.
The deal will bring in some three million Euros to the club, a 20% increase
over this season's contract. (25.02.04) |
| The Spanish magazine "Interviu" reported that
Real Murcia were in debt to the tune of €9.2 million, and had sold forward
their marketing rights to a company owned by president Jesús Samper
until 2009. They also revealed a few days earlier that Samper had bought land
for around €3 million which is now worth 200 times as much after planning
permission was granted to build a new stadium for Real and their neighbours
Ciudad. Samper's construction company will apparently be carrying out the work.
(23.02.04) |
| A shirt worn by Edgar Davids fetched more than
those of Ronaldinho and Beckham in a charitable auction at the Planet
Fútbol trade show. Davids' Barcelona shirt was sold for €320, only
beaten by a Barça "dream team" shirt which went for €600. There
were no bids at all though for a shirt belonging to Stoitxkov.
(22.02.04) |
| German press reported that €60 tickets for
the Champions' League tie between Bayern Munich and Real Madrid were selling on
the black market for €1,200. (21.02.04) |
| A group of Qatari businessmen may soon be buying
a majority share in Valladolid. The energy related consortium have apparently
offered €12 million to buy out the 57% shareholding of Palcos Blancos,
owned by two sisters who inherited the company and have no interest in
football. (20.02.04) |
| Joan Gaspart spent over €175 million on
signings and another €15.4 million on agents' commissions during his three
years as president of FC Barcelona, according to Spanish press reports.
(18.02.04) |
| The Spanish courts have lifted the embargo on the
shares of Atlético Madrid belonging to Jesús Gil and to his
business partner, current president Enrique Cerezo. Although court cases are
still going on, the judge considered that other guarantees given by Gil are
sufficient to cover any liabilities. Gil owns around 80% of the €38
million capital of the club. (13.02.04) |
| Valladolid defender Pablo Paz is taking his old
club Tenerife to court for non-payment of salary payments and publicity rights
amounting to around one million euros. (11.02.04) |
| The government has decided to cut subsidies to
the Spanish Football Federation by around 25% this year. The CSD has reduced
funding by one million euros as the youth side failed to qualify for this
summer's Olympic games. (10.02.04). |
| Real Sociedad have announced that they want to
renovate their Anoeta stadium, building a 110 room hotel and expanding capacity
to 42,000. Works should start in 2005. (05.02.04) |
| Spain's foreign footballers could be in for a
windfall this year. A recent tax reform will allow them to pay half the tax
that their local colleagues will be charged. (04.02.04) |
| Second division B side Extremadura have come up
with a novel way to sell shirt space. Faced with the lack of a sponsor for the
whole team, they have decided to offer advertisers the chance to publicise on a
player by player basis. For €4,500 you can see your name on the shirt of a
first team player, and for €3,000 you get a substitute. It could catch on.
(03.02.04) |
| It looks like there will not be anything like
enough tickets available for Spanish supporters at the upcoming Euro 2004
championship. The Spanish federation have already received demands three times
in excess of the allocation given to them by the Portuguese organisers, and
many of the tickets will be given out to clubs and local organizations.
(31.01.04) |
| Boardroom battles again at Valencia, where a
group of shareholders including vice-president Pedro Cortés and managing
director Manuel Llorente are trying to put together a package to keep out ex
president Paco Roig. The largest shareholder Bautista Soler wants to sell
20,500 of his 28,000 shares, but not to Roig, even if he offers a better price.
(30.01.04) |
| Problems again at Xerez, where president Gil
Silgado has been unable to sort out the financial disaster left him by his
predecessor. Players are claiming that the club still owes them several months'
wages, money contributed by a sponsor to pay for new signing Shang Yi went
missing, and sporting director Poli Rincón has walked out on the club,
but not before using scarce funds to pay himself and his assistants the back
pay they were due. Plus ça change... (29.01.04) |
| Barcelona reported a six month profit of
€2.6 million this year, thanks in part to increased gate money and efforts
to reduce costs (23.01.04) |
| Osasuna president Patxi Izco has admitted that
the club's finances are not in the best of health. The Pamplona based side
obtained a 17 year loan of €18 million a few months ago guaranteed by the
local Navarran government, but Izco stated that despite this, the debt
situation had not improved and that they would not be entering the transfer
market this winter. (20.01.04) |
| The court case between Espanyol and their ex
striker Manel has been put back to 3rd March in order for them to try and reach
a friendly agreement. Manel, who is now playing for Derby County, is claiming
€600,000 plus damages for wrongful dismissal after he was thrown out of
the club in the summer. (15.01.04) |
| Real Madrid have been fined €60,000 by the
Supreme court in Spain for exceeding the ground capacity in their match against
Zaragoza back in April 1995. The case has taken almost nine years to resolve.
(14.01.04) |
| The Las Palmas management are asking the Caja de
Canarias savings bank for a further €1.2 million loan, two thirds of which
will go to pay off old debts to ex manager Sergio Kresic and several ex
players, and the rest will be to bring salary payments up to date. The loan
will have to be guaranteed by the managers themselves, and will enable the club
to unblock an embargo preventing them from signing new players.
(13.01.04) |
| Argentine businessman Daniel Grinbank has
abandoned Leganés without warning, leaving them completely in the lurch.
The empresario took over 86% of the club in the summer after they were
reinstated to the second division and promised them immediate success, bringing
in a complete squad of players from his homeland. However things didn't go as
planned, and the club are still languishing in the bottom half of the table. It
now appears that Grinbank didn't put in the money he promised, and club
president Jesús Polo is having to bale them out. (09.01.04) |
| Salamanca are trying once again to carry out a
capital increase, the sixth since they converted to a Sporting Limited Company
(SAD). Chances of covering the 6.8 million Euros increase are slim though. The
6.7 million increase launched in 2003 was only subscribed to the tune of
€210,233, Ronaldo's participation included. (08.01.04) |
| Barcelona have tied up a €150 million
syndicated deal fronted by the local savings bank "La Caixa" to refinance some
€60 million of debt, pay off creditors and enable the club to buy new
players. The package consists of a €100 million loan, payable over seven
years with the principal only repayable over the last five, and €50
million in the form of bank avals to guarantee amounts due to the tax
authorities and more importantly term payments for new signings. (02.01.04)
|
| Osasuna have had to pay Athletic Bilbao
€600,000 to lift an embargo and be able to register moves in the transfer
market. The two clubs had a 4 year agreement whereby Athletic paid €1.2
million for preferential rights over their counterparty's players, but the
Basque side denounced their Pamplona based neighbours when they failed to pay
back the final settlement when the agreement was cancelled.
(02.01.04) |
| Shareholders of Deportivo La Coruña
approved a €60 million capital increase at their recent AGM. If fully
subscribed, the increase should help reduce the burden of a €178 million
debt, second largest in Spain behind that of FC Barcelona. The club also
announced a net profit of €3.5 million for the 2002/3 financial year.
(29.12.03) |
| Problems for the two big Canary Island clubs,
Tenerife and Las Palmas. Both presented unmanageable debts in their annual
accounts of €44 million and €61 million respectively, and both are
looking of a way of avoiding bankruptcy and dissolution. Tenerife are hoping
that the sale of land and a €17 million capital increase will save the
day, whereas Las Palmas, who have negative shareholders' funds of over €37
million, are pinning their survival mainly on the sale of players, subsidies
from the regional government and the renegotiation of debts with public
authorities and local banks. (29.12.03) |
| Recreativo Huelva may have been relegated last
summer, but their season in the first division and their good cup run made them
a €280,000 profit. Alavés though were not so fortunate; their
relegation resulted in a net loss of around €5 million, the first negative
results in 15 years under president Gonzalo Antón.
(28.12.03) |
| Xerez have been trying unsuccessfully to unblock
an embargo by the Spanish taxation authorities on their television rights. The
club are also waiting for the local town council to pay up agreed subsidies on
a regular basis to enable them to meet payroll and other costs.
(27.12.03) |
| Second division Eibar expect to make more from
their third round cup tie against Real Madrid than they did from the sum of all
of their matches over the last six seasons. Takings are expected to top a
quarter of a million Euros. Ciudad de Murcia also did well from their second
round cup tie against Barcelona which has enabled them to pay off back debts to
their players. (24.12.03) |
| Many clubs with year end 30th June will be
celebrating their annual shareholders' meetings during the winter break.
Sporting Gijon have announced a deficit for last season of over €10
million, taking their total debt to around €30 million. The Asturian club
will be carrying out a capital increase next month, and ex Racing Santander
president Dmitri Piterman is expected to take up a majority shareholding.
(24.12.03) |
| Meanwhile Racing Santander have apparently
carried out their own capital increase successfully. According to press
reports, some 81.5% of the €7.5 million issue have been placed, and the
Cantabrian regional government have reportedly underwritten the rest.
(24.12.03) |
| Salamanca president Juan José Hidalgo is
to step down after sixteen years at the helm. The local based businessman
leaves the club with debts of fourteen million Euros, but is hoping that the
6.8 million Euros capital increase will enable them to bring their debts up to
date. (23.12.03) |
| Espanyol have apparently negotiated a credit line
of €6 million to help them sign players in the winter market. The money
will also presumably help them build their new stadium, currently under
construction on the outskirts of Barcelona. (23.12.03) |
| Barcelona have just set a new record for club
members. The total figure of 108,929 is the highest on record, beating the
previous best which was set back in 1986. The tally has increased by over 2,500
since Joan Laporta took over as president in the summer. (18.12.03) |
| The Real Madrid players stand to collect
€750,000 each in bonus money if they win the double, Champions League and
Spanish league. The three team captains, Raúl, Guti and Roberto Carlos
agreed the figures with club management at a cordial lunch in a top Madrid
restaurant today. (12.12.03) |
| Spanish league clubs are considering calling a
strike at their LFP meeting on 18th December in protest at the failure of the
government to carry out their promises in the summer. The authorities had
agreed to increase the share that the LFP gets from the "quiniela" pools
lottery, reduce VAT and take other fiscal measures which so far they have not
done. (10.12.03) |
| More bad news from the second division. Las
Palmas management are trying to negotiate a credit from the local savings bank
to pay off back salaries to their players and staff dating back to September,
and Salamanca still owe players' wages from the last two months. (09.12.03)
|
| Barcelona's Luis Enrique is in trouble with the
Spanish tax man. The veteran midfielder apparently failed to declare income of
€600,000 which was collected by his Dutch West Indies registered company
during the years 1999 and 2000 from Nike Europe. The player told the tax
authorities that it related to salary earnings, and as such FC Barcelona
themselves should have been responsible for the payment of tax.
(05.12.03) |
| Oviedo will be taking their ex keeper Esteban to
the labour courts after they failed to reach an agreement with his new club
Sevilla. The player, who was on loan to Atlético Madrid last season,
left the Asturian side in the summer after they failed to pay his back wages.
Oviedo are claiming compensation for breach of contract, but the sporting
authorities turned down their appeal as the non payment of salary constituted
an effective end to his contract. (04.12.03) |
| The fight to overturn Real Madrid's sale of their
training ground continues three years on. The ADED pressure group have
denounced the fact that the favourable decision by the Madrid city council to
reclassify the land from sporting use to development property was signed off at
first by one of Real Madrid's own lawyers Tomás Ramón
Fernández, albeit acting on behalf of the "ayuntamiento". The sometimes
called "pelotazo" brought in €510 million to the club, thereby turning
round their financial situation in one fell swoop. (04.12.03) |
| Real Madrid announced that they were currently in
negotiations with shirt sponsors Siemens to raise the fees substantially from
the current €12 million when the contract runs out at the end of next
season. The three year contact signed with the German company was already a
huge increase over the €2.4 million previously paid by Teka, but the
signing of big star names has enabled the club to ask for more.
(28.11.03) |
| Salamanca president Juan José Hidalgo is
up in court for tax irregularities. The case relates back to the 1990's when
the hard up club retained payroll tax and VAT and failed to pay the amounts
over the tax authorities. (27.11.03) |
| As expected, Dmitri Piterman decided not to
participate in Racing Santander's capital increase. The American businessman is
apparently more interested in buying in to Sporting Gijon.
(26.11.03) |
| Espanyol's shareholders have sold 1.9% of their
shares to Revolt de Llobregat, a company controlled by the town councils of
Cornellà and El Prat, as part of the agreement for the construction of
their new stadium on the outskirts of Barcelona. (24.11.03) |
| Xerez are the latest second division club to be
denounced for non-payment of wages. Management didn't think though that the two
month delay had caused a lack of effort from the players, despite four losses
in a row, stating "last season we owed them nine months, and even so they
almost won promotion". On that basis, they should be heading the table by now!
(19.11.03) |
| Racing Santander are still trying to pick up the
pieces in the post-Piterman era. The club are proposing another capital
increase of 1.48 million Euros in order to avoid dissolution under the sporting
companies act, and the Cantabrian regional government are expected to take up
20% of the new shares. Piterman still owns 25% of the club, but under league
rules would have to sell if he wants to invest in Sporting Gijon. (18.11.03)
|
| Tenerife are trying to renegotiate a 3.3 million
Euro debt with Audiovisual Sport, the company which handles television rights
for most teams in Spain. The money is due as the club took an advance in the
2001/2 season on future television income assuming they would continue in the
first division. However they were relegated and as a result were due less, and
therefore have to repay part of the advance. (17.11.03) |
| Atlético Madrid managing director Miguel
Angel Gil announced that the club will be carrying out a capital increase aimed
at season ticket holders and fan clubs members. If all went well, the Gil
family would be looking to sell out their shareholding in a couple of years'
time. (13.11.03) |
| Barcelona's new management revealed that the club
paid agents' commission of €6 million on the Saviola deal some three
seasons ago when Joan Gaspart was president. (12.11.03) |
| Ex Racing president Dmitri Piterman is seriously
considering buying a majority share in Sporting Gijon. The club is in financial
difficulties, and their staff and players went on strike this week after four
months without pay. (10.11.03) |
| Sporting are not the only second division club
with payment problems though. Amongst others, Salamanca are only expected to
fork out their September payroll next week and Las Palmas captain José
Antonio reported last month that he and his colleagues had not been paid their
salary for three months. (10.11.03) |
| Valladolid forward Ciric is still waiting for the
club to settle an outstanding bill of 780,000 Euros for publicity rights.
(07.11.03) |
| Rayo Vallecano's owners the Ruiz-Mateos family
denied that they would be selling out, even though the family members
themselves will be standing down from the day to day management. Press reports
had linked ex Racing president Dmitri Piterman with a possible buy-out.
(06.11.03) |
| Barcelona have reportedly agreed terms with
Arsenal for the transfer of Spanish under 17 international Cesc
Fábregas. The deal allows for the English club to pay one million Euros
in cash and waive a debt of one million more owing from some time back for the
transfer of Overmars and Petit. The two sides will also play a friendly match
in Spain. (04.11.03) |
| Alavés and Espanyol are destined to meet
in court over the training rights of Quique De Lucas. The Catalans are claiming
1.8 million Euros from the second division club, alleging that the player's
move to Chelsea was only a front to avoid paying the fee. Both clubs failed to
reach an out of court agreement today. (31.10.03) |
| Celta's Balaidos stadium needs an immediate
face-lift amounting to 3.7 million Euros, according to a study commissioned for
the Vigo city council. (30.10.03) |
| Toledo have been saved. The second division B
side has been sold to a group of local businessmen for a reported fee of
€900,000, and will be able to continue in existence. The club had been
bought by a Murcia entrepreneur who wanted to take it to the East coast town of
Cartagena, but his proposal was turned down by the footballing authorities.
(26.10.03) |
| Valencia reported a loss for the 12 months to 30
June 2003 of 4.6 million Euros, although their debt situation remained stable
at 129 million Euros. Their annual budgeted turnover for next season remains
unchanged at 90 million Euros. (01.10.03) |
| Jesús Gil could sell his shareholding to
Mexican businessman Jorge Vergara once the court embargo is lifted. The central
American impresario has made an offer valued at 26 million Euros for the Gil
family's shares. (29.09.03) |
| It is a sign of the times, we suppose. Spanish
first division clubs only invested around 125 million Euros in transfer fees
this summer, almost half of which was spent on two players, Beckham and
Ronaldinho. And second division clubs hardly spent anything at all, their sum
total outlays amounting to only 1.4 million Euros. To put things in
perspective, Chelsea alone forked out over 160 million Euros in new signings
this summer. (18.09.03) |
| Having collected from Chelsea for the sale of
Makelele, Real Madrid have decided to pay Manchester United immediately for the
17.5 million Euros balance outstanding on the David Beckham deal, rather than
spread this over four years as previously agreed. This has saved them 1.4
million Euros in interest charges. (10.09.03) |
| Inter Milan will be denouncing Real Madrid to
FIFA for non payment of the remaining $10 million due from last season for the
Ronaldo transfer. The contract allowed for Inter to take a Madrid player in
compensation for this amount, but when the elected player Solari couldn't agree
personal terms with Inter, Madrid assumed the obligation lapsed. (05.09.03)
|
| Sevilla have postponed their upcoming tour of
India as they still haven't received payment. If things can be sorted out in
time, they may now organize the tour for the next international break in the
second week of October. (04.09.03) |
| Zaragoza lost around €25 million in their
one season in the second division. The loss was due to reduced revenue from
television rights and the high cost of players, many of whom stayed with the
club when they went down. (22.08.03) |
| Real Mallorca's capital increase has been
successful in the end, and local businessman eventually put up around €17
million to keep the club afloat. Club president Mateo Alemany, whose family own
the Zeta publishing group, has held on to 20% of the company.
(21.08.03) |
| The players of Athletic Bilbao have agreed to
give up 15% of their fixed earnings from last season to help the club square
their 2002-3 budget. Management have agreed however that the money will be paid
back in incentives if they achieve certain objectives next season such as
qualifying for Europe or reaching the semi-finals of the cup.
(16.08.03) |
| The situation at Atlético Madrid is still
not clear. The proposed capital increase has only attracted around
€500,000 in new funds, and Mexican businessman Jorge Vergara says he will
be coming to Spain in September to buy the club from the Gil family.
(15.08.03) |
| Betis have reported Barcelona to the Spanish
Football Federation for non-payment of a debt of €1.5 million relating to
the loan of Alfonso last season. The Andalucian club paid out €2.9 million
for the loan plus a purchase option, half of which was returnable if the option
was not taken up. the two clubs are expecting to resolve the problem on an
amicable basis. (13.08.03) |
| Second division B side Toledo are on the verge of
disappearing. The club, who were formed 75 years ago and who only three seasons
ago were in the second division A, were bought by businessman Francisco
Gómez who wanted to take them to the East coast to replace bankrupt
Cartagonova. But the RFEF refused the move, and Gómez abandoned his
plans to concentrate on saving Cartagonova. With just 10 days to go before the
start of the season, Toledo have no players and despite efforts from local
fans, have little hope of survival. (12.08.03) |
| Tenerife have been sentenced to pay €174,000
to their ex player Felipe Miñambres. Felipe, now manager of Salamanca,
explained that this related to promissory notes which the club had failed to
meet. Tenerife have ten days to comply with the court order.
(08.08.03) |
| Racing Santander have followed Barcelona's
initiative and have made big increases in their season ticket prices. The club
had put their rates up for seven years. (08.08.03) |
| Barça's new management have completed an
audit and a due diligence exercise which show that the club lost €150
million last season. The amount includes provisions of €30 million for
possible debts with the tax authorities and a write down of players by €60
million. (07.08.03) |
| Leganés have big plans now they have been
saved from relegation. Major shareholder and president Jesús Polo will
be selling the club to Argentinian businessman Daniel Grinbank, who is expected
to put money into the club to buy new players. Polo will stay on as president.
(06.08.03) |
| Oviedo have decided to continue in the regional
third division. They won't have it easy though. As well as their financial
problems, they will start with minus six points for failing to pay Rad Belgrade
for the transfer of Martinovic a couple of years ago. (06.08.03) |
| Barcelona's new management have decided to
increase season ticket prices between 20-40%. A study showed that the amounts
charged last season were less than half of those of Europe's biggest clubs, and
one of the cheapest in the Spanish first division. The club are also
considering carrying publicity on their shirts for the first time in their
history. (25.07.03) |
| The Caja Cantabria has rejected the financial
guarantees put forward by Dmitri Piterman to buy a majority shareholding in
Racing Santander. The American businessman has until January to find an
acceptable alternative. (24.07.03) |
| The courts have slapped an embargo on
Valladolid's gate money for the next two years to pay a debt of over
€250,000 due to their former physiotherapist. (23.07.03) |
| Celta were informed today by UEFA that they will
be able to play their Champions League qualifying round match in their Balaidos
stadium. (22.07.03) |
| Racing Santander's now ex president Dmitri
Piterman says he would be interested in buying Mallorca if his bid to acquire a
majority shareholding in Racing fails. (18.07.03) |
| Celta could be forced by UEFA to play their
Champions League games away from the Balaidos stadium after the local council
refused to foot the €150,000 bill for the necessary improvements. The club
is studying possible venues in the North of Portugal. (15.07.03) |
| A Canary Island website accused five players from
Universidad Las Palmas of taking €64,000 in bribes from a businessman to
throw their final play off match against Cádiz. The game ended 1-1,
allowing Cádiz to stay a point ahead of Barcelona B and win promotion to
the second division A. The players themselves strongly deny the accusations.
(14.07.03) |
| Mallorca's local businessmen did not take up the
preferential offer for the club's capital increase and it will be now thrown
open to Spanish and international investors. (11.07.03) |
| Racing Santander's controversial president Dmitri
Piterman has decided to resign after a disagreement with the other
shareholders. Major shareholder Santiago Díaz will take over. The
Russian-American businessman expects to be back soon though, as he has an
option to purchase Díaz's shares which he intends to put into force once
his bank guarantees have been cleared. (08.07.03) |
| Spanish referees are back on the money trail.
After the bankruptcy of their sponsor Quiero, officials will be wearing
publicity from do-it-yourself chain "Wurth" on their sleeves next season.
(07.07.03) |
| Compostela have reached an agreement with the
local tax authorities to reschedule their €3 million debt over the next
three years, guaranteed by future television income. (04.07.03) |
| Twelve players from Atlético Madrid have
turned down the club's offer to settle outstanding wages in two payments (70%
now and 30% in September), and have registered a claim with the footballers'
association (AFE). (03.07.03) |
| Relegated Oviedo have applied to the Spanish
courts for protection from creditors under the "suspension of payments" law, in
an attempt to save themselves from extinction. (02.07.03) |
| Six second division clubs have been reported to
AFE for non-payment of wages and could be relegated if debts are not settled by
31 July. The clubs in question are Compostela, Las Palmas, Salamanca, Sporting
Gijon, Tenerife and Xerez. (01.07.03) |
| Second division B side Toledo have been bought
out by a businessman who wants to move the club to the East coast town of
Cartagena to replace the bankrupt Cartagonova. The RFEF are opposing the plan.
(01.07.03) |
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