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Spanish teams will receive financial aid due to the pandemic

Spanish teams will receive financial aid due to the pandemic

Affected by the Covid-19 crisis, teams from Spain will receive a financial loan.

by Academia   |   comments 0

About 11 Spanish football teams will receive an amount of approximately 67 million euros, to help them in the difficulties arising from the coronavirus pandemic. This loan will be made by the British institution Rights and Media Funding Limited.
 

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This financial aid will be distributed mainly to teams from Spain's second division, as well as teams that have risen to the country's soccer elite this season. The focus is on assisting teams that especially need to sell box office tickets in their budget and that are prevented from moving due to Covid-19 protocols.
 
José Guerra, who is general director of La Liga, spoke on the subject: "Securing this type of loan is clear evidence of the financial stability and confidence in the future of Spanish clubs and LaLiga (...)". Guerra added: “This transaction opens a door to a new financing channel in which clubs can enter the market in a coordinated manner, obtaining a more solid structure and therefore more attractive financing conditions.”
 

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To facilitate the loan negotiation, the institution that is responsible for the country's football worked with some law firms in the form of a partnership. The elected offices were JB Capital and Pérez Llorca.
 
“One of La Liga's goals is to protect the economic stability of professional football clubs. Thus, we help clubs by giving them access to this new funding network, so that they can remedy the difficulties they are experiencing, in addition to helping them be able to obtain other forms of funding. ” concluded Guerra.
 
La Liga is one of the most prestigious competitions in European football, and is played by 20 clubs. The main members of Spain's soccer elite are the powerful Barcelona and Real Madrid. Another division that will receive the financial contribution is La Liga SmartBank, referring to the second division of Spanish football, composed of 22 teams.
 
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