Spain: Pro clubs had €3.5bn in debts at end of 2012-13 (down by 5.3%)

Liga BBVA and Liga Adelante, the first and second Spanish professional divisions, had €3.573bn in debts at the end of the 2012-13 season, Miguel Cardenal, Spanish secretary of state for sport, announced on 07/05/2014. This represents a decrease of €202.2m, or 5.3%, from the 2011-12 season.

"The system of financial controls is working well; we're very happy. The work being accomplished by Spanish football is being recognised by outside bodies, and UEFA's [Union of European Football Associations] report on financial fair play states that for 2012-2013 Spanish football is in equilibrium," said Cardenal, who chairs the Spanish CSD (Higher Sports Council).

74% of Spanish pro football debt, or about €2.6bn, is held by eight Liga BBVA clubs, according to figures from the CSD. The decline in debt is mainly due to a decrease of 2.3% in players' salaries, and an overall decrease by 7% in expenses. Liga BBVA and Liga Adelante had total net profits of €106m for 2012-13.

Clubs' tax and social security expenditures were €720m on 30/06/2013. The total indebtedness of the Spanish pro football is…