Having put pressure on clubs to pay about $800m in back taxes, the Spanish Government is following up with legislation that aims to rein in spending on football transfers and salaries. The combined debt of the top twenty teams was $6.3bn (€3.5bn) in June last year. Valencia owed €552.9m to other clubs and the tax authorities.
Having put pressure on clubs to pay about $800m in back taxes, the Spanish Government is following up with legislation that aims to rein in spending on football transfers and salaries. The combined debt of the top twenty teams was $6.3bn (€3.5bn) in June last year. Valencia owed €552.9m to other clubs and the tax authorities.
As with the tax crackdown on clubs in Britain, a key driver is the austerity measures that are having to be taken to cope with the budget deficit. In this context, profligacy by football clubs is frowned upon.