Spanish Liga - Real Madrid buy stake in Oviedo to help keep club afloat

Real Madrid have invested €100,000 in a capital increase launched by Real Oviedo as the struggling former top-flight club tries to raise cash to stay afloat.

Eurosport
Spanish Liga - Real Madrid buy stake in Oviedo to help keep club afloat
.

View photo

Real Madrid (Imago)

Real director general Jose Angel Sanchez had informed Oviedo president Toni Fidalgo that the world's richest club by income, with annual earnings of more than €500m, had decided to help out their Asturian rivals, Oviedo said in a statement.

Oviedo were relegated from the first division in 2001 after a club-record 13 seasons in the top flight and dropped down to the Segunda B, or third tier, two years later.

Financial problems, including delays in wage payments to players, resulted in a further level for two seasons before they returned to Segunda B.

View comments (0)
Write for Yahoo Sport
  • Bell steers England to victory, hosts take 2-1 Ashes lead

    Bell steers England to victory, hosts take 2-1 Ashes lead

    Ian Bell guided England to an eight-wicket victory over Australia in the third test at Edgbaston on Friday to put the hosts 2-1 up in the series with two matches to play. Bell (65 not out) and Joe Root, with an unbeaten 38, anchored the chase after England were set to 121 to win on the third day at Edgbaston where a dominant performance banished memories of a heavy defeat at Lord's. England lost Alastair Cook (7) and Adam Lyth (12) to set a few nerves on edge but Bell, dropped on 20 by Australia captain Michael Clarke, made his second 50 of the match to spark raucous celebrations after Root hit the winning runs. More »

    Reuters - 3 hours ago
  • Lambert leaves Liverpool to join West Brom

    Lambert leaves Liverpool to join West Brom

    Liverpool offload Rickie Lambert after just one unproductive season at Anfield More »

    Reuters - 1 hour 59 minutes ago
  • Serie A - Confusion as Stevan Jovetic joins Inter

    Serie A - Confusion as Stevan Jovetic joins Inter

    Inter Milan have signed Stevan Jovetic from Manchester City, although there were conflicting reports as to whether it was a loan or permanent switch. More »

    Eurosport - 3 hours ago
  • Can we ever trust Fifa again? Football writer Jonathan Wilson and Copa90's Eli Mengem investigate

    Can we ever trust Fifa again? Football writer Jonathan Wilson and Copa90's Eli Mengem investigate

    Can we ever trust Fifa again? Who replaces Sepp Blatter? These key questions and more are answered on this week's episode of The Rail, as Spencer is joined by football writer Jonathan Wilson and Copa90's Eli Mengem. More »

    Copa90 - 3 hours ago
  • No snow no problem as China's financial might lands 2022 Games

    No snow no problem as China's financial might lands 2022 Games

    The snow will be fake, but the very real financial muscle China boasts proved decisive on Friday when Beijing won the right to host the 2022 Winter Olympics. Games officials meeting in Kuala Lumpur voted for the Chinese capital over the lure of a winter wonderland offering from Kazakhstan's Almaty, in a clear sign that the International Olympic Committee is craving solidity and security after a series of problems and headaches. While Rio scrambles to make up lost time in its building for the 2016 Olympics, and Tokyo is embroiled in a stadium drama the allure of a megacity with a cast-iron financial guarantee proved irresistible. More »

    Reuters - 4 hours ago