La Liga president: Spanish clubs have absorbed Covid-19 impact better

La Liga president Javier Tebas feels Spanish clubs have done a better job of handling the Covid-19 impact because of the league's economic control.

The La Liga clubs have suffered a net loss of around one billion Euros in the previous seasons because of the ongoing Covid-19 pandemic.   -  Getty Images

The La Liga clubs have suffered a net loss of around one billion Euros in the previous seasons because of the ongoing Covid-19 pandemic, informed the president of the top Spanish league Javier Tebas. Speaking to the world media, Tebas, accompanied by the corporate general director of La Liga, Jose Guerra, said that unlike other prominent leagues in Europe, the Spanish clubs will be able to recover from the ensuing debts faster because of the economic control put in place by La Liga.

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“The Covid-19 has had a considerable impact on incomes in the professional football industry but La Liga has absorbed the impact better than other European leagues and industries. The reason behind this has been La Liga’s economic control which has been in place for the previous six seasons. Added to this is the great effort and responsibility of the clubs in limiting their spending and the maintenance of health protocols that allowed the competition to be completed,” Tebas said.

“Putting together all the figures, we have calculated that the net loss the professional football has suffered in Spain in the past seasons (2019-20 and 2020-21) has been around Euro one billion. So, the Covid-19 impact on the clubs will be extending till five years in which time they will be paying off around Euro 250 million every year to recover the impact of the pandemic,” said Guerra. “The clubs have the backing of the financial institutions and there will be no case of non-payment of loans before the clubs can recover from the pandemic’s impact,” he added.

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Guerra said that La Liga helped 11 second division clubs gain total assistance of Euro 62 million from financial institutions to tide over the existing financial crisis. “These clubs will have five years to pay up the loans. This proves that the financial institutions have complete faith in the football industry in Spain,” he said.