sexta-feira, 20 de janeiro de 2012

Madeira Sports Institute to be Extinguished

The institute had an annual budget of 34 million Euro: 9 to repay banks for sports infrastructures;  11 million for subsidies; 6 million for travel expenses and 4 million to pay 256 employees. It had an accumulated a debt of over 52 million.
The result of the Regiobal Government's lack of liquidity is being felt. Many sports clubs, particularly the smaller ones, are three or four months behind in paying salaries. The Government is apparently considering closing half the swimming pools it has built all over the island and the Sports Institute has announced most of the swimming pools will in any case remain closed until February since it has no money for heating them.

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