17:11  ,  April 18, 2013

Spanish football clubs owe €670 million to the state

The football clubs of Spain owe 670 million euros of taxes to the country’s government. The Spanish Sports Council issued the financial statements of these clubs, Punto Pelota reports.  

According to Council Chairman Miguel Cardenal, the clubs’ debts have reduced as compared to the year past, when the total debts constituted 750 million euros.  

To note, UEFA had banned Málaga CF from taking part in European cup competitions for one year. The Spanish club was penalized for late payment of the players’ salaries and the taxes.

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