The Vicente Calderon based entity continued on their path to financial redemption as they returned 33 million Euros to the treasury department, reducing their debt by a big margin.
Although with difficulty, Atletico Madrid have met their financial obligations. The club consolidated their debts after the documents were signed for an operation through which Los Colchoneros have paid the tax office almost 33 million Euros.
The Vicente Calderon based entity is looked to take this total to 50 million Euros by the end of the calendar year as they make historic leaps in slashing their debts. However, it is the funding required to undertake these payments that is one of the common
concerns for Atletico’s board members.
Los Rojiblancos’ prudent ways in the 2012 summer transfer window allowed them to cash in during the pre-season, allowing them to meet their commitments at the first time of asking.
In fact, Atletico Madrid have been concerned since being named by UEFA to clarify their relationship with the Treasury department. The Manzanares club need to prove that they are current on their payments and will fulfil their obligations for the Financial
Fair Play.
While talking to media representatives, Atletico Madrid CEO, Miguel Angel Gil Marin, revealed that they are working hard to cancel their debt, sharing that they are working on September 2014 deadline.
"The agreed date for total debt cancellation is September 2014," assured Miguel Angel http://www.senore.com/Football-soccer/Gil-c14870 Marin stated.
The coming years will see Atletico splash cash on two payments, which will certainly be well below the amounts they have paid to date. The current La Liga joint leaders chose the particular agreement with the Treasury at the expense of maintaining a reduced
bank debt, which club sources have revealed is a figure below 30 million Euros.
Those same sources have revealed that the total debt is manageable but the club will have to restrain on spending in the coming seasons. In this regard it should be remembered that Atletico have already started on the aforementioned path, investing a paltry
million Euros in total for signings this season; the deal that brought Cata Diaz to the http://www.senore.com/Football-soccer/Vicente-c36001 Calderon from Getafe being the lion’s share.
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