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Atletico Madrid pays €51 million to the Spanish Tax Authority

by Tom Conn | Posted on Friday, September 6th, 2013

Atletico Madrid has paid €51 million to the Spanish Tax Authority, thus refinancing their outstanding tax debt and paying in installments in the future.

Cerezo

In a report by Spanish sports daily, AS, Atletico has been spending the summer selling players such as Radamel Falcao for €60 million to pay off their outstanding debt and secure the long-term future of the club.

Along with the payment of €51 million, which along with their previous payment two months ago, equals over €100 million paid to erase their outstanding debt just this summer.

One half of the €100 million went to the Treasury, the second half goes to wages and transfer fees (which they will pay over the course of the season, outstanding transfer fees which will be paid over time and other outstanding debts which Atletico Madrid has with various banks.

Atletico Madrid reached an agreement to pay the outstanding debt in installments until it is completely erased, which could come sooner than later, depending how far they advance in the Champions League.



Inside Spanish Football