Spanish clubs warned of huge ‘financial disaster’

A FINANCIAL disaster could engulf Spanish professional soccer unless action is taken to prevent profligate clubs slipping deeper into debt, according to the president of top-flight club Osasuna.

Clubs that lack the vast earning power of Real Madrid and Barcelona have been living beyond their means for too long and the economic model they use is badly flawed, president Francisco Izco said yesterday.

“Unless there is sweeping change then I predict a genuine financial disaster,” Izco warned.