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Spanish football sees debts fall

English.news.cn   2014-05-08 20:08:58

MADRID, May 8 (Xinhua) -- Spain's Secretary of State for Sport Miguel Cardenal has confirmed that the debts of Spain's football clubs fell by 200 million euros (280 million U.S. dollars) during the 2012-2013 season.

Cardenal said that systems of "economic control are working and working well", as Spanish clubs struggle to lower an overall debt which still stands at a worrying 3.57 billion euros.

"There two years have opened a scenario in which the debts in Spanish football is not as generalized as in other years," he said, adding that 74 percent of the total debt was owed by just eight clubs in the BBVA Primera Liga.

The Secretary of State would not say which those clubs were, but confirmed that the current season would see the game turn in a profit of 106 million Euros.

"With the exception of years in which we have seen changes in the television contracts, we have never had profits like that in a season," he said.

The profits are the result of a 2.3 percent fall in salary costs for clubs and an overall 15 percent drop in personnel costs, while the season has also seen a slight increase in attendance at grounds.

Debts to the from Spanish clubs have also fallen from 752 million euros to a predicted 595 million euros by the end of June.

Cardenal highlighted that while the 2012-13 season saw Spanish football maintain a financial equilibrium and the current season will turn in a profit, "of the five main leagues: the Premier League, France and Italy are making important losses, Germany is making a profit and Spain is in financial equilibrium."

The majority of Spanish clubs complain about the distribution of revenue from TV rights. Spain has a system in which each club negotiates its own TV contract, which contrasts sharply with the model used in England where clubs negotiate collectively with TV companies.

As a result Real Madrid and Barcelona between them earn around 50 percent of the TV revenue, earning at least 4 times more than any other club in the country.

That of course has served to tilt the league tremendously in favor of the 'big two' although Atletico Madrid's outstanding season has this season served to add emotion and interest to the title race.

Editor: Zhu Ningzhu
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