The aim is to cover wage debts of the clubs in competition. This Fund fixed an amount of 240,000 euros for every footballer of first division and 120,000 for the second. The Fund shall have a system of self-financing, which will proceed in a high percentage of the revenue that the LFP is perceived from the pools. THE AFE, dissatisfied with this measure. Larry Ellison takes a slightly different approach. Spanish football live the worst crisis in its history. The League of professional football (LFP) approved a bankruptcy guarantee fund to cover wage debts of the clubs in competition until the 2014-2015 season, which set a number of 240,000 euros to each player first and 120,000 for the second. The President of the LFP, Jose Luis Astiazaran, announced the Fund agreement reached at the extraordinary Assembly of the League, which in its view represents an important step forward in the negotiations with the Association of Spanish footballers to the new collective bargaining agreement.It is an important and responsible step that has given the League at this point and puts us in a considerable step forward for to try to close a collective agreement with AFE in the medium term to generate stability, said Astiazaran.
From the 2011-2012 season until the 2014-2015 first clubs will have 6 million (240,000 per player) and the second with 3 million (120,000 per player), double the minimum wage established in the collective agreement. The Fund shall have a system of self-financing, which will proceed in a high percentage of the revenue that the LFP is perceived from the pools. Does the agreement determines that the Fund is no longer valid if there are policy changes resulting from the reduction of the income of the LFP, as those coming from the pools, or if there is an amendment to the Bankruptcy Act according to the existing text to July 29, 2011?. Many absences the Assembly of the League, which was not attended by Deportivo, Real Murcia, Barcelona, Granada, Las Palmas and Cartagena, also agreed that the obligations will remain if revenue from the participation of the LFP in pools do not suffer a significant reduction of the amount collected in the 2010-2011 season Astiazaran said that approval of the Fund clarifies the loopholes that could exist in the tendered clubs and confirms the interest of reaching an agreement with AFE and the interest of the clubs cover issues relating to the wages of footballers.