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Real Sociedad on brink of bankruptcy
Spain - 07 October, 2005
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The Primera Liga club is on the verge of bankruptcy if it cannot solve its debt problems, according to president Miguel Fuentes. “The situation is worrying and even critical and we have no other option but to carry out a share issue or wind up the club.” he said. “We have a hard job ahead of us but I trust that we will be able to turn matters around.” Vice-president Inaki Alkorta said that the current board inherited a debt of EU 30m when it came in to power last season. “We started to work on 1 July but we had to manage the accounts of the previous presidency.”
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