Economic expert Jose Maria Gay de Liebana has published his annual report on the financial situation of Europe’s top five football Leagues, condemning La Liga.
The doctor of economics has assessed the financial models and situations surrounding top-flight clubs in Spain, Italy, England, Germany and France.
Declaring that the Bundesliga was the soundest League run, it was Spain that bore the brunt of his criticism.
“The Spanish League is not progressing, only two clubs are growing, Barca and Madrid, whilst the others are just like five years ago,” he told reporters today.
“Spanish football is dying. I think they are about five years back, and stadiums are the reason. Spanish football has no hook for supporters.
“Football is a true reflection of the economy, pulling the cart are France and Germany.
“The model of the Premier League from a financial point of view is bankrupt, but it is based on club ownership like that of Roman Abramovich. Chelsea’s losses are financed through its holding company.”
Gay de Liebana’s data published today, based on 2010-11 figures, reveals that total annual revenue for La Liga’s clubs is at €1,669m, but that that is posted against expenditure of €1,830m, which the financial expert reflected was symptomatic of excessive wages impoverishing clubs.
The economist suggests that clubs’ current ambition to improve the distribution of television money in the League is a positive move to readdress the financial situation.