November 4, 2009: Spanish Government Announces ‘Beckham Law’ Soon to Be Repealed

The Spanish government announces that the “Beckham law” will cease to apply on January 1, 2010. The law was passed in 2005 in order to lure top foreign executives to Spain by giving them a massive tax break (see 2005). However, most of the people who took advantage of the law were footballers, in particular England and Real Madrid midfielder David Beckham. The law’s repeal will lead to Spanish clubs having to pay foreign players more in future, creating a more level playing field for signings with clubs in other European countries. [Xinhua News Agency (Beijing), 11/4/2009]