Spain: Professional clubs' debt to treasury at €482m for 2013-14 season

The Spanish professional clubs' cumulative debt to the Agencia Tributaria (the Spanish Treasury) was at €482m on 30/06/2014, the LFP (Professional Football League, Spain) announced on 29/07/2014. This is 25% less than a year ago, when the clubs owed the Agencia Tributaria €647m, the League said.

"Pursuant to the agreement between LFP and CSD (Spanish Higher Council of Sports) signed on 25/04/2012, Spanish football continues to successfully implement the financial checks that are in place," said the Spanish LFP.

The protocol signed between the two parties has two phases, the Spanish Secretary of State for Sport, Miguel Cardenal, explained on 25/04/2012. The first phase extends until 2015 and requires clubs not to increase their debts to the Treasury and to be up to date with their payments. At the end of the second phase, which ends in 2020, the Spanish clubs must be out of debt to the Treasury.

The cumulative debt of the Liga BBVA and Liga Adelante clubs (the first and second Spanish divisions), was at €3.573bn at the end of the 2012-13 season, Cardenal announced on 07/05/2014.

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