Spanish clubs face debt mountain
Spanish football clubs were reported Thursday to be sinking under debts totalling one billion euros with many clubs unable to pay wages.
Spanish football clubs were reported Thursday to be sinking under debts totalling one billion euros with many clubs unable to pay wages.
The Mercado De Dinero magazine said Barcelona, one of the biggest clubs in the country, was running debts totalling 230 million euros.
Champions Valencia were 180 million euros in debt.
The magazine points out that without the sale of its sports centre in downtown Madrid, nine-times European champions Real Madrid would be twice as endebted as Barcelona.
Real splashed out 65 million dollars for French star Zinedine Zidane and 45 million dollars for Brazil's World Cup hero in the last two years.
But Mercado De Dinero says other clubs are not as lucky and 22 sides are behind in paying wages.