Until last weekend La Liga led Spain’s Primera División. That was a remarkable story in itself, although no doubt the Barcelona/Real duopoly will re-establish itself by the end of the season. The negotiation of individual broadcasting contracts in Spain means that the top two enjoy a 10:1 ratio of television income over many clubs in the division. The case of Spain is discussed by Borja Garcia and his colleagues in our forthcoming Manchester University Press book
Until last weekend La Liga led Spain’s Primera División. That was a remarkable story in itself, although no doubt the Barcelona/Real duopoly will re-establish itself by the end of the season. The negotiation of individual broadcasting contracts in Spain means that the top two enjoy a 10:1 ratio of television income over many clubs in the division. The case of Spain is discussed by Borja Garcia and his colleagues in our forthcoming Manchester University Press book on the Europeanisation of football.
However, what is even more remarkable is Levante’s story of financial recovery. Three years ago they were €90m in debt, a serious situation even by the standards of Spanish football, yet in 2010/11 they made a surplus of €2m. A lot of the credit must go to their dynamic young president Francisco Cátálan.
They have been helped by the legal framework in Spain which allows a club to carrying on playing while it is mired in debt. Creditors were prepared to accept a reduction in what they were owed in return for yearly payments. It’s better to see some of your money than lose everything. However, Levante have also brought their wage bill under control and dealt cleverly in the transfer market.