LaLiga has renewed its collaboration agreement with DIMAYOR, the leading football league in Colombia, in order to continue the exchange of valuable information that can help bring new financial measures to Colombian football.
The objective of the new agreement, which runs until the end of 2023, is to intensify the working relationship between the leagues and begin more direct collaborations that will allow DIMAYOR to offer greater technical assistance to its members.
As part of this, DIMAYOR will work closely with LaLiga on the creation and implementation of its own system of Economic Control. Introduced by LaLiga in 2013, economic control has helped bring sustainable financial management to professional football in Spain and is seen as a global success story in the sports industry.
Under the proposed changes, DIMAYOR clubs will have better projections regarding their income and expenses, as well as being able to manage their existing resources better.
“We are very happy to continue collaborating with DIMAYOR as one of our strategic allies in Colombia,” said José Guerra, corporate general director of LaLiga. “With this new guidance that we will provide economic control issues, we know that they will be able to further enhance their competition.”
LaLiga and DIMAYOR have held a collaboration agreement since November 2016 and this renewal marks the next step in the professionalisation of the competition and Colombian football in general.
"The creation of economic control is the beginning of good corporate governance policies that we are beginning to implement in DIMAYOR,” said Fernando Jaramillo, president of DIMAYOR. “This tool is the opportunity for Colombian professional football clubs to better organise their finances, standardise the economic information they must present and achieve a real planning of budgets, understanding what the limitations are and not exceeding the debt capacity.”
The two leagues will hold regular follow-up meetings to guarantee the flow of information and collaboration in order to exchange knowledge and achieve the construction of an effective economic control model.
“With economic control in LaLiga we managed to reduce the risks of insolvency, complaints from players over non-payments or even bankruptcy in clubs,” Guerra added. “We want to offer all our experience and know how to DIMAYOR so that they can also apply it.”
“We have spoken with club presidents and this is the beginning of a dynamic and responsible DIMAYOR, in which the clubs can act with greater transparency and above all comply with their contractual obligations in all aspects," Jaramillo concluded.