Argentina soccer halted by debt
ARGENTINA. The start of the football season in Argentina has been delayed indefinitely because many of the clubs involved are heavily i...
ARGENTINA. The start of the football season in Argentina has been delayed indefinitely because many of the clubs involved are heavily in debt.
The season had been due to kick off on August 14 , but the Argentine Football Association (AFA) said some clubs did not have enough money to pay players.
AFA President Julio Grondona said the situation was "very difficult".
Last week, clubs in the second division had the start of their season postponed for similar reasons. "The executive committee of the AFA resolved unanimously tonight that the championships in all categories should not start on the scheduled dates," said a statement posted on the AFA website late on Tuesday. The organization said it was continuing to look for "a substantive solution" to the financial problems facing the clubs.
Argentina officials say the global economic crisis has had a big impact on clubs in the country, because they depend heavily on rich European teams buying their players. "The available resources cannot meet expenses. The situation is very difficult," Grondona said.