La Liga football clubs sponsored by sports betting houses may have to cancel their contracts soon, according to a letter sent by Spanish Minister Alberto Garzon.
He informed the teams that contracts with betting companies will be prohibited by the country’s new gambling advertising law, which will take effect as soon as the royal decree is approved at a cabinet meeting.
According to Reuters, as athletes are seen as references for thousands of people, advertising has led to an increase in gambling among young people in Spain (aged 18 to 25), which has jumped from 29% to 40% in the past four years.
The amount of money that young people spend on games has grown by 13% per year. The letter stated that the sponsored teams “contributed to the normalization of a practice with serious health and social risks that need to be minimized in the field of advertising”.
Today, seven of the 20 La Liga (Spanish Championship) teams are sponsored by gambling companies. That is why La Liga president Javier Tebas said that under the new law, clubs could lose around € 90 million ($ 105 million).
The clubs received a transition period that ends in May, but the league wanted to extend the period for up to three years.
About La Liga
The first division of the Spanish Football Championship is known worldwide as La Liga. Altogether, the national competition is disputed by twenty clubs, under the system of dispute of running points, in which the clubs play among themselves in the system of turn and return.
In the last edition, Real Madrid were crowned champions, followed by Barcelona and Atlético de Madrid. At this moment, Real Sociedad is in the leadership of La Liga with Real Madrid in the second position. Granada and Vilarreal close G4.
