Club officials have backed the proposals, which are in line with the new UEFA Financial Fair Play rules that are being introduced gradually over the next three years. Under the terms of the deal announced by the LFP, a committee of independent professionals will be established to analyse accounts and recommend possible sanctions for clubs that fail to abide by the rules.
“We are not immune from the wider economy,” LFP president Jose Luis Astiazaran was quoted as saying by Reuters. “The current situation means we the clubs must regulate ourselves.”
Astiazaran added: “This is a journey that starts now and ends in three years, with the aim of striking a balance between revenue and spending, regulated with the creation of a control department. The wish is to encourage more financial discipline and rationality and we will try to encourage clubs to operate taking their own capacity into account.”
Racing Santander became the latest club to seek protection from creditors last week, joining fellow La Liga clubs Real Mallorca and Real Zaragoza as well as all three teams promoted to the first division at the end of last season – Real Betis, Rayo Vallecano and Granada – in administration. A study released by Barcelona University on Monday indicated the 20 clubs in the top flight of La Liga made a combined net loss of Eur100 million in the 12 months through to June 2010.
