Spain’s state-owned monopolies have been ordered to drastically cut sports marketing and sponsorship budgets. It’s all part of the government’s budget cuts.
The monopolies include the state-run lottery, its rail network and post office. They will be limited to spending no more than 2 percent of their profits on sports-related partnerships. Such partnerships as are allowed will need to be approved in advance by the Ministry of Finance.
The order has been criticized by media firms in Spain. Such as the Spanish Sports Marketing Committee (CEMDE), which attacked the government for restricting sporting events just as they are returning to normal after Covid-19 restrictions.
CEMDE said in a statement: “Events, competitions run by Spanish Federations such as La Vuelta (Cycline), Spanish Basketball or Royal Handball League may be left without their main sponsors.”
