This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Spain World Cup Bonus Sparks Anger Among Spanish Lawmakers

By Harold Heckle

MADRID -- Spain players will each get a World Cup bonus of 720,000 euros ($980,000) if they win the tournament in Brazil, sparking anger among lawmakers.

Captain Iker Casillas and vice-captain Xavi Hernandez signed the deal with Spain's football federation June 3 on behalf of the 23 players. It was an increase from the 600,000 euros each player received when Spain won the 2010 tournament.

Lawmakers Pablo Martin Pere and Susana Ros of the opposition Socialist party criticized the premium as "disproportionate" and "an insult to citizens" given the recent economic crisis.

Lawmaker Josep Antoni Duran i Lleida tweeted that Spain would pay "more than twice" the bonus Germany would if it wins the tournament.

"Are we twice as rich as Germany?" his tweet said.

Germany's team will receive 300,000 euros if they win, having kept the same agreement they struck when they participated in Euro 2012.

Spain's economy began to crumble in 2008 with the collapse of its bloated real-estate sector, and unemployment soared to 26.1% at the close of 2013.

Like other countries that have the euro as their currency -- such as Ireland, Portugal or Greece -- Spain suffered as the government imposed harsh austerity measures in order to get its public finances into shape.

Despite stinging cutbacks, unemployment will remain above 20% until 2017.

Lawmaker Laia Ortiz said she would raise the matter of the squad's premium in parliament and lambasted football for being "another world" where "there is no crisis."

Each member will receive a payment of 360,000 euros if the squad reaches the final, and 180,000 euros if it makes the semifinals.

Spain attacking midfielder Juan Mata said such payments were "sometimes used against us," but that he would be playing "with the same enthusiasm I had as a child, in a bid to try and win another World Cup, without thinking about all the rest."

The 2014 World Cup winner will be awarded $35 million by FIFA, soccer's governing body, but many say the money should go toward programs that promote the game at all levels.

Associated Press writer Ciaran Fahey in Berlin contributed to this report.

>>Read More:
Watching the World Cup? Here's the Must-Have Gear for Soccer Fans
The World Cup Built a Better ESPN

Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $132.54 0.00%
FB $80.54 0.00%
GOOG $540.11 0.00%
TSLA $247.73 0.00%
YHOO $43.48 0.00%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs