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Minister calls for new financial control body in Spain

4:56pm Thursday, 25th June 2009

Jaime Lissavetzky, Spain's secretary of state for sport, called this week for a new financial control body with sufficient regulatory authority to enforce a clear set of rules and stop Spain's football clubs from spending more than they earn.

Lissavetzky, who is in favor of a rule preventing clubs from spending more than 60 percent of their budgets on wages, told newspaper As: "Lack of solvency and the existence of massive debts is worrying and the time has come to fix the situation. There is no coercive mechanism such as this independent and public financial control body could be. It would set some clear rules under which anyone that broke them would be relegated, without exception."

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