They should have told their players to get the Barca players shirts and get them signed. Can make a bit of extra €€€s on E-Bay for this sort of memorabilia.
What's worse is the situation in Valencia, which I covered on the Villarreal board a while back.
Spanish Football is dying because of the economy.
They should have told their players to get the Barca players shirts and get them signed. Can make a bit of extra €€€s on E-Bay for this sort of memorabilia.
----------
Fair point
-----------
Spanish Football is dying because of the economy.
---------
Yeah it certainly looks that way. IMO they need to start by sharing the TV money, obviously that may mess up Barca and Madrid but surely it's needed otherwise loads of clubs will soon go out of business.
Spain is facked - over 25% unemployment at the moment
The ex-premier of Valencia, Francisco Camps, who was forced to step down after his implication in the Gürtel kickbacks-for-contracts corruption scandal, is a fan of Valencia. So much so that his last act in office was to use the Valencia Finance Institute (IVF) to guarantee the loans that Valencia CF, Hércules and Elche had asked the banks for in recent years: 118 million euros in total.
With the announcement by the debt-racked teams that they are unable to pay back these loans, the lenders will trigger the deal in place with the regional government, making it the biggest shareholder in all three sports clubs. This contravenes the Public Limited Sports Company Law, which prohibits any one entity from holding over five percent of more than one team participating in the same competition.
After the execution of the guarantee against the IVF, current regional premier and Camps' Popular Party successor, Alberto Fabra, has inherited a poisoned chalice. The Generalitat has had to absorb 70 percent of Valencia's shares, and unwillingly now also owns 65 percent of Hércules and 45 percent of Elche. At the same time the region's unpaid invoices from pharmacies, care workers and privately run hospitals are stacking up, while massive cutbacks are being implemented in education, healthcare and scientific research.
Three years ago, Hércules borrowed 18 million euros from Caja Mediterráneo to pay player bonuses following its promotion to Primera, and to cover an unpaid tax bill. The club was owned at the time by Enrique Ortíz, who is also embroiled in a corruption scandal and is accused of illegally financing the Popular Party.
Camps' hand is also evident in the collapse of Valencia CF. In 2004, he invited the president of the region's business associations, Juan Soler, to assume the presidency of the club to avoid the return of Paco Roig, who was considered a danger to the team. Soler embarked on a pharaonic plan to build a new stadium. As the construction industry crashed, the new stadium remained half-built, the land on which Mestalla stands could not be sold and Valencia's debt rocketed to 550 million euros.
Bancaja, its principal creditor, placed current president Fernando Llorente in charge and the hemorrhage was stemmed through refinancing and the sale each summer of the team's best player.
The generosity of the regional government under Camps did not end there. Levante also accepted a loan of 5.6 million euros from Caixa Penedés. It hopes to start paying some of it back this year. Villarreal, meanwhile, last year refused five million euros of public money, but has a sponsorship deal with Castellón airport that was worth 20 million euros over five years.
The aerodrome is another legacy of Camps' administration. To date, not one plane has landed or taken off from it.
The future of Valencia, Elche and Hercules may depend on whether other European clubs decide to report them to the European Union regarding their breach of ownership rules, and an investigation from Brussels could derail the rescue of these clubs, according to EU sources.
In 2001, Manchester United and Bayern Munich reported Real Madrid to the EU regarding the sale of its training pitch to the local government.
(Villarreal Board, 25th Jan)
Spain is facked - over 25% unemployment at the moment
--------------------------
Is it not higher?
Spain is facked - over 25% unemployment at the moment
--------------------------
Is it not higher?
=============
the use of the word "over" suggests yes.
I think for under 25 yr olds it's something like 55%
Valencia could realistically have been reported to the EU and may have got possible UEFA sanctions had they been reported at the time.
The situation has changed again as the deal where they are 70% government owned has been proven unlawful. They are now controlled by a nationalised bank that was bailed out by Spain, who were bailed out by the EU.
Basically, Spanish Football is impoverished and wreaks of corruption from the top-down. The fact that Spaniards are in dreadful economic circumstances and that few football clubs pay their taxes is shocking and if you take the Valencian example that they were willing to guarantee bank loans to the tune of €118million ahead of the welfare of their citizens then it is disgusting.
Spanish economy is awful atm have you guys read about the Cyprus bank run i fear that it will happen in Greece, Spain and Italy aswell and probably happen to Ireland aswell if the UK hadn't supported them. The EU will crumble soon and if the UK government had any common sense they would bail asap. The cost of staying in the EU far outweighs the trade benfits as the only countries worth trading with are Germany and France
Exactly, and since the French and German economies are diverging anyway then it will only get worse. It is a socialist undemocratic and farcical organisation.
Spain is facked - over 25% unemployment at the moment
--------------------------
Is it not higher?
=============
the use of the word "over" suggests yes.
----
Not joining the Euro looks like a better decision day by day. I disagree that leaving the EU would be the best decision for us economically, they are still our biggest importers which is unfortunately why we're pretty much required to make sure the whole Eurozone doesn't collapse in on itself, hence bailout packages to Ireland etc.
Most Spanish clubs are fúcked mostly due to overspending back in the 'golden age' of La Liga and, in general, due to having lived way beyond their means for years.
The underlying issue is that most provincial sides have traditionally relied on local authorities lending a hand to keep their necks above the water, be it through sponsorship deals, buy-and-leaseback deals on their stadia or other ill-disguised forms of subsidising them.
What the crisis has changed is the fact that all these local authorities are now penniless and can't bail the clubs out any more.
Hopefully in the long term it'll be a good thing though, as it really has served to highlight how unsustainable Spain's professional football model is, but I'm not holding my breath. History has shown that nothing was learnt from the collective government bailout of Spanish club football back in the late 80s/early 90s, where the new law on Sports PLCs was passed in exchange for writing off their debt. When the economy starts booming again, all the errors of the past will quickly be forgotten.
Henrik's_Forehead-TomasRogic18 (U6171)
Copy and pasting whole articles without a link
Admin 2 will tell you off
The UK's biggest importers unfortunately the UK produces very little that would be imported the major benefit is that our imports from Europe will not be too expensive.
Utd don't pay tax either, don't think any club in debt do.
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posted on 18/3/13
They should have told their players to get the Barca players shirts and get them signed. Can make a bit of extra €€€s on E-Bay for this sort of memorabilia.
posted on 18/3/13
What's worse is the situation in Valencia, which I covered on the Villarreal board a while back.
Spanish Football is dying because of the economy.
posted on 18/3/13
They should have told their players to get the Barca players shirts and get them signed. Can make a bit of extra €€€s on E-Bay for this sort of memorabilia.
----------
Fair point
-----------
Spanish Football is dying because of the economy.
---------
Yeah it certainly looks that way. IMO they need to start by sharing the TV money, obviously that may mess up Barca and Madrid but surely it's needed otherwise loads of clubs will soon go out of business.
Spain is facked - over 25% unemployment at the moment
posted on 18/3/13
The ex-premier of Valencia, Francisco Camps, who was forced to step down after his implication in the Gürtel kickbacks-for-contracts corruption scandal, is a fan of Valencia. So much so that his last act in office was to use the Valencia Finance Institute (IVF) to guarantee the loans that Valencia CF, Hércules and Elche had asked the banks for in recent years: 118 million euros in total.
With the announcement by the debt-racked teams that they are unable to pay back these loans, the lenders will trigger the deal in place with the regional government, making it the biggest shareholder in all three sports clubs. This contravenes the Public Limited Sports Company Law, which prohibits any one entity from holding over five percent of more than one team participating in the same competition.
After the execution of the guarantee against the IVF, current regional premier and Camps' Popular Party successor, Alberto Fabra, has inherited a poisoned chalice. The Generalitat has had to absorb 70 percent of Valencia's shares, and unwillingly now also owns 65 percent of Hércules and 45 percent of Elche. At the same time the region's unpaid invoices from pharmacies, care workers and privately run hospitals are stacking up, while massive cutbacks are being implemented in education, healthcare and scientific research.
Three years ago, Hércules borrowed 18 million euros from Caja Mediterráneo to pay player bonuses following its promotion to Primera, and to cover an unpaid tax bill. The club was owned at the time by Enrique Ortíz, who is also embroiled in a corruption scandal and is accused of illegally financing the Popular Party.
Camps' hand is also evident in the collapse of Valencia CF. In 2004, he invited the president of the region's business associations, Juan Soler, to assume the presidency of the club to avoid the return of Paco Roig, who was considered a danger to the team. Soler embarked on a pharaonic plan to build a new stadium. As the construction industry crashed, the new stadium remained half-built, the land on which Mestalla stands could not be sold and Valencia's debt rocketed to 550 million euros.
Bancaja, its principal creditor, placed current president Fernando Llorente in charge and the hemorrhage was stemmed through refinancing and the sale each summer of the team's best player.
The generosity of the regional government under Camps did not end there. Levante also accepted a loan of 5.6 million euros from Caixa Penedés. It hopes to start paying some of it back this year. Villarreal, meanwhile, last year refused five million euros of public money, but has a sponsorship deal with Castellón airport that was worth 20 million euros over five years.
The aerodrome is another legacy of Camps' administration. To date, not one plane has landed or taken off from it.
The future of Valencia, Elche and Hercules may depend on whether other European clubs decide to report them to the European Union regarding their breach of ownership rules, and an investigation from Brussels could derail the rescue of these clubs, according to EU sources.
In 2001, Manchester United and Bayern Munich reported Real Madrid to the EU regarding the sale of its training pitch to the local government.
(Villarreal Board, 25th Jan)
posted on 18/3/13
Spain is facked - over 25% unemployment at the moment
--------------------------
Is it not higher?
posted on 18/3/13
Spain is facked - over 25% unemployment at the moment
--------------------------
Is it not higher?
=============
the use of the word "over" suggests yes.
posted on 18/3/13
I think for under 25 yr olds it's something like 55%
posted on 18/3/13
Valencia could realistically have been reported to the EU and may have got possible UEFA sanctions had they been reported at the time.
The situation has changed again as the deal where they are 70% government owned has been proven unlawful. They are now controlled by a nationalised bank that was bailed out by Spain, who were bailed out by the EU.
Basically, Spanish Football is impoverished and wreaks of corruption from the top-down. The fact that Spaniards are in dreadful economic circumstances and that few football clubs pay their taxes is shocking and if you take the Valencian example that they were willing to guarantee bank loans to the tune of €118million ahead of the welfare of their citizens then it is disgusting.
posted on 18/3/13
Spanish economy is awful atm have you guys read about the Cyprus bank run i fear that it will happen in Greece, Spain and Italy aswell and probably happen to Ireland aswell if the UK hadn't supported them. The EU will crumble soon and if the UK government had any common sense they would bail asap. The cost of staying in the EU far outweighs the trade benfits as the only countries worth trading with are Germany and France
posted on 18/3/13
Exactly, and since the French and German economies are diverging anyway then it will only get worse. It is a socialist undemocratic and farcical organisation.
posted on 18/3/13
Spain is facked - over 25% unemployment at the moment
--------------------------
Is it not higher?
=============
the use of the word "over" suggests yes.
----
posted on 18/3/13
Not joining the Euro looks like a better decision day by day. I disagree that leaving the EU would be the best decision for us economically, they are still our biggest importers which is unfortunately why we're pretty much required to make sure the whole Eurozone doesn't collapse in on itself, hence bailout packages to Ireland etc.
posted on 18/3/13
Most Spanish clubs are fúcked mostly due to overspending back in the 'golden age' of La Liga and, in general, due to having lived way beyond their means for years.
The underlying issue is that most provincial sides have traditionally relied on local authorities lending a hand to keep their necks above the water, be it through sponsorship deals, buy-and-leaseback deals on their stadia or other ill-disguised forms of subsidising them.
What the crisis has changed is the fact that all these local authorities are now penniless and can't bail the clubs out any more.
Hopefully in the long term it'll be a good thing though, as it really has served to highlight how unsustainable Spain's professional football model is, but I'm not holding my breath. History has shown that nothing was learnt from the collective government bailout of Spanish club football back in the late 80s/early 90s, where the new law on Sports PLCs was passed in exchange for writing off their debt. When the economy starts booming again, all the errors of the past will quickly be forgotten.
posted on 18/3/13
Henrik's_Forehead-TomasRogic18 (U6171)
Copy and pasting whole articles without a link
Admin 2 will tell you off
posted on 18/3/13
The UK's biggest importers unfortunately the UK produces very little that would be imported the major benefit is that our imports from Europe will not be too expensive.
posted on 18/3/13
Utd don't pay tax either, don't think any club in debt do.
Page 1 of 1