Valencia CF, currently seventh in Spain's top division, failed to service debt on £68m loan, which city authorities guaranteed The local government of Valencia, one of Spain's most cash-strapped regions and owner of several infamous public white elephants, has added a La Liga football club, Valencia, to its portfolio. With local health and education services hit by austerity programmes, the regional government's effective takeover of Valencia and its squad of highly paid soccer players has prov...
Valencia government assumes control of city's stricken football club
The Guardian - 21 Jan 2013 23:15
Valencia CF, currently seventh in Spain's top division, failed to service debt on £68m loan, which city authorities guaranteed The local government of Valencia, one of Spain's most cash-strapped regions and owner of several infamous public white elephants, has added a La Liga football club, Valencia, to its portfolio. With local health and education services hit by austerity programmes, the regional government's effective takeover of Valencia and its squad of highly paid soccer players has prov...
Share this Article
Recommended