They aren't anymore, that's the problem for them - and that's why they are selling everything for short term cash.The Spanish government and La Liga will keep propping them up no matter how badly they run themselves.
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La Liga aren't letting them register players unless they pay off debts, of course their answer is to sell the crown jewels to fund signing a 34 year old for 50m euros.
No wonder they are desperate for the Super League, I can't believe the Prem clubs even joined it. The Premier League IS the Super League.