Spanish Football Clubs Finances: Crisis and Player Salaries

Spanish Football Clubs’ Finances: Crisis and Player Salaries

Wednesday 28th April 2010 at 6pm
B33 Lecture Theatre
Main Building, Birkbeck College
Torrington Square
London WC1E 7HX
(For directions please see the pdf map).

Given by:

Dr  Ángel Barajas, University of Vigo, Observatorio Económico del Deporte.


Drawing from his recent paper with Professor Placido Rodríguez. (see reading below), in this presentation Dr Barajas will outline the current financial situation in Spanish professional football. He utilises different financial ratios in order to classify the financial position of the different teams. The study analyses clubs in both the First and Second division of Spanish football. In particular Dr Barajas analyses the relationships between the size of market, team payrolls, and team performance. He demonstrates the financial problems that are created by the football player labour market  “arms race” that clubs are engaged in for recruiting the most talented players in order to achieve the best possible sporting outcome. He discusses the implications of the new Spanish Law for companies in financial distress that has implied that nine clubs are technically insolvent, and explains the reasons for this situation. And then discusses the context from which the recent threat of strike action by the Spanish Professional Football Players Union arose.  He concludes by suggesting some possible remedies for the current difficult situation of Spanish football.


  • Ángel Barajas & Plácido Rodríguez. “Spanish Football Clubs’ Finances: Crisis and Player Salaries”. International Journal of Sport Finance, 2010, 5, 52-66


  • Ángel Barajas is an associate professor of financial management in the Department of Accountancy and Finance at the University of Vigo, Spain, and a researcher for the Spanish Economic Observatory for Sport (Observatorio Económico del Deporte). His research interests include investment valuation and finance of sports, particularly professional football.

Contact Details

Birkbeck Sport Business Seminar Series Contact Details

For further details on the seminar series contact:

Sean Hamil
Department of Management
Birkbeck College
Malet Street
London WC1E 7HX

Tel: 020-7631 6763

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