Debt-ridden Spanish clubs fail to pay players
Reuters - Tuesday 22 July 2008, 12:33
Debt-ridden clubs in the top two
Spanish leagues owe their players over 38 million euros ($60.50
million), according to the country's association of footballers
(AFE).
AFE president Gerardo Gonzalez Movilla said that the
economic crisis was hitting Spanish sides hard and the number of
complaints by players against clubs had reached record levels.
He added that the decision of several clubs to go into
administration meant that many players would not be paid the
money they were owed.
"We have had more accusations than ever this year," Gonzalez
Movilla told sports daily AS. "The added problem is that in
previous years they would eventually get paid but not now."
Last season players from Primera Liga side Levante (pictured)
threatened strike action over unpaid salaries and many other
clubs in the top two divisions are experiencing serious
financial difficulties.
One of the factors that has aggravated the problems has been
the collapse of the Spanish property market. Construction
magnates have traditionally been the biggest investors in
Spanish clubs.
One such magnate, Real Mallorca president Vicenc Grande,
agreed this week to sell his controlling interest in the club
after his real estate company Grupo Drac filed for insolvency.
Gonzalez Movilla said the increasing financial problems of
Spanish clubs meant they risked losing players to foreign
leagues.
"If things carry on like this, the players will end up going
to other leagues and no one will want to come here," he said.
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