Finances in football have been the topic of many a conversation in several major leagues, most recently with the news that 2 of La Liga’s key sponsors are looking to break their contracts with the league.
Online newspaper, El Espanol, reported that the Spanish top flight league is on the verge of “financial collapse” due to sponsors DAZN and CVC beginning talks of breaking contract.
The league reported huge losses of €892 million during the 2020/2021 season, which was blighted by the COVID-19 restrictions during the pandemic. A combination of less transfer activity, compressed television schedules and a drop in commercial income were to blame for the enormous losses during that period, according to La Liga.
To lose 2 crucial sponsorships just 2 years after such a difficult financial period could spell disaster for La Liga, but the league themselves have in fact made a statement condemning the reports surrounding DAZN & CVC’s sponsorships.
Despite El Espanol’s reports, rival news site Sport has reported that a spokesman for La Liga has denied the claims and hit back at the online newspaper.
Their statement read “It is absolutely false that DAZN and CVC are considering breaking their contracts with La Liga due to economic and legal problems.”
“It is also worrying that no person from El Espanol has contacted La Liga to contrast the information, in a lack of rigor and journalistic professionalism.”
Only time will tell whether or not the claims made in regard to DAZN and CVC are true. If they are, then La Liga could be facing a scramble to recoup the revenue that would be lost with the 2 huge sponsors.