Aleeeee Real Murcia .....

Sunday, October 17, 2010

Real Murcia, out of Administration

Real Murcia have managed to bring themseleves out of administration after reaching an agreement with all of their creditors. There will now be a one year parenthesis until a new 5 year agreement beings (September 2011), to repay the 29 million euros of total debt. This figure has been helped by the transfer of Sergio Escudero to Shalke 04 and by the money being generated by the cup tie with Real Madrid.

The administrators will no longer be completely in charge, and will take a back seat as supervisors.

The 29 million euro debt consists of :

17 million ordinary debt (includes the 5 million indemnity payment to the LFP - Professional Football League - from when Jesus Samper negotiated his own TV deal)

5 million to the taxman.

7 million to Samper's own companies - this can be repayed outside of the 5 year plan.

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