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Granada CF become completely free of debts

by Heath Chesters | Posted on Tuesday, June 25th, 2013

The Andaluz club will become one of very few in Spanish football, to boast zero treasury debts.

Granada CF Abono Launch

During the launch of the new season ticket campaign on Monday, Granada CF Club Secretary Pedro González Segura announced that in the coming days, the club will be clearing all remaining debts with the Spanish Treasury.

The debts of around €4 million were inherited by the current board of directors, when they assumed control of the club in the summer of 2009. Like many clubs in the current economic climate, the board of directors at Granada reached an agreement with the Spanish Treasury to pay the sum over a period of years.

Over recent years, the Andaluz club have set the standards when it comes to sound financial management, becoming one of the most healthily run clubs ins Spanish football. Whilst Granada are quite within their rights to continue making nominal payments to service the outstanding sum with the Spanish Treasury, they have decided to take the step of wiping the slate completely clear this summer instead. This will make the club one of very few in Spain, to have absolutely zero debts, either privately or publicly.

The club also announced significant discounts for season ticket holders, during the press conference for the campaign launch on Monday. Season ticket prices are reduced between 5% and 23% on average in various sectors of the Nuevo Los Cármenes stadium, whilst in the corners, reductions are as much as 50%. Also revealed, were improved discounts for youngsters, pensioners and the unemployed.

Whilst Spain remains firmly in the grips of the economic crisis, Granada announced that the majority of sponsors have renewed deals with improved terms for the club, but principal sponsors Caja Granada, who recently merged with banking group BMN, will not be renewing their deal which has stood for the last three seasons. As such, Granada CF are now exploring alternative options for principal shirt sponsors, ahead of the 2013-2014 season.

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