Barca, Madrid prosper but Spanish league falters

AP, Monday 11 Jul 2011

One year after Spain celebrated its World Cup triumph, its national soccer league is beset by debt, mismanagement and bankruptcies

Barcelona

Twenty-two Spanish league clubs have gone into bankruptcy protection since lower-league team Las Palmas started the trend in 2004. On Friday, Racing Santander became the sixth insolvent club in this season’s 20-team top division, which opens Aug. 21.

The Associated Press spoke with several club directors, financial experts and soccer figures. They agreed on a number of factors that have led to this trouble: large transfer fees, inflated players salaries, ego-driven owners with little fiscal responsibility and a clear divide in the distribution of television money.

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