A Sevilla goal in injury time against Almeria on the last weekend of the season prevented Mallorca from a surprise qualification to the UEFA Champions League and may have sealed the club’s financial future.
“Over the past two years, Mallorca has suffered a very complex economic situation, with serious financial problems and an inability to meet its commitments,” major shareholder Mateu Alemany told the club’s official website.
He said the club now needs to bring spending in line with earning capacity and that the administration should be seen as “a solution, not a problem.”
Earlier this week a study by University of Barcelona professor Jose Maria Gay showed the 20 clubs in Spain’s La Liga owed a combined €3.53 billion in 2008-09.
