SPAIN’S football clubs have dug themselves into €663,876 million debt to the Spanish Tax Office, with La Liga teams accounting for €500 million of it.
The huge figure does not even include premiere teams such as Real Madrid, Barcelona Football Club, Bilbao Athletic and Osasuna, who are not required to disclose their current debts.
The Ministry of Education, Culture and Sports has termed the situation ‘worrisome,’ yet Enrique Cerezo, president of Atlético Madrid seems unphased.
“It makes me laugh when people talk about the €500 million debt to the Tax Office. And that’s a tragedy?” Cerezo said, cutting the half-billion to size.
“Any business in a debt moratorium could triple that,” he continued.
“I understand that the Tax Office wants to charge [the clubs] and this and that,” Cerezo stated, “but from September to May we keep a great part of the country entertained.”