The Spanish Football League have been confirmed as agreeing to take a smaller cut in revenue generated from La Quiniela, the Spanish pools.
President of the National Sports Council (CSD), Miguel Cardenal, had been in talks with the LFP since early autumn in a bid to get the clubs to accept to lower the cut they receive.
The League funds €35m towards La Quiniela and has so far received a 10 per cent share in proceeds each season.
However, for the 2013-14 campaign, they have agreed to receive €8m less revenue, which Cardenal described today as ‘a gesture and with a sense of responsibility’. The request was put to the LFP due to the CSD having suffered a number of subsidy and funding cuts from the Spanish government in recent months.
Cardenal also confirmed that the move is a ‘transitional step’ at this stage and it is not intended to be permanent. The CSD will use the money to fund other sporting needs in the country, such as at grass roots level and at schools.
Money received by the LFP from La Quiniela is split three ways, with at least a third of that amount goes to pay off a loan taken out in 1990 to settle a recovery plan, another third goes into stadium security measures and the final third is distributed to clubs or used to manage the competition.
Since April 2010, following an agreement between the LFP and the Spanish Footballers Association, if there is anything left from the money used for security measures then it is used to pay off money owed by clubs to players.
