AFTER winning the World Cup, you would have thought that Spanish football would be on an all-time high. Think again, most Primera Liga clubs are in a terrible financial condition and even mighty Barcelona have been forced to borrow money to finance the coming season.
Our very own Real Mallorca is in court-administered administration and was ejected this week from the Europa League because of its major financial problems. Unfortunately, the Primera Liga is like Spain as a whole; like the country clubs borrowed a small fortune to pay for new players and wage demands and now, their top financial rating is under threat. Sound familiar Sr. Zapatero? It is a shame that Real Mallorca, after a great season, are now not allowed to play in Europe because of off-the-field problems. Now, Mallorca has been sold but the new owners, led by former manager Lorenzo Serra Ferrer, are now looking around for an investor with very deep pockets. Mallorca could be in administration for many years to come because as you can imagine there aren´t too many people around with 80 million euros to spend. The Spanish league maybe the best in the world on the pitch but off the pitch the finances of the clubs need to be looked at closely.