Spanish Sport Chief Warns Country’s Soccer Teams of Financial Troubles
July 7, 2011
patient Arial, medic sans-serif; font-size: 13px; line-height: 19px” class=”Apple-style-span”>Spain’s Secretary of State for Sport, ed Albert Soler, has urged the country’s financially troubled soccer clubs to embrace a new business model to cope with current economic difficulties.
Soler, speaking at the Royal Spanish Football Federation’s (RFEF) general assembly on Wednesday, outlined that clubs must implement change and praised the Spanish Football League’s (LFP) proposed financial restrictions. “We have arrived at a moment when we must reassess whether our soccer model is valid,” said Soler.
“I want to urge those responsible to adjust the management (of clubs) to the times we are living in,” he added. “I believe it is the time to define, to be the best at a sporting level but also at a management level in the world of soccer. This will be achieved with contributions from all.”
Soler’s comments come after a University of Barcelona report stated La Liga’s 20 clubs made a combined net loss of US$143m in the year ending June 2010. While total debt reduced slightly to US$4.3bn, this was still more than double revenues of US$2.3bn.
The LFP is expected to vote on the implementation of new financial controls in Spanish football at a meeting on July 12. Soler added: “We are experiencing a period of economic crisis and the worlds of sport and football are not immune to it. The clubs are putting in a significant effort, and this shows it is not true that we are not responsible.”