Eibar raises cash needed to play with the big boys

Eibar's Estadio Municipal de Ipurua will be hosting the likes of Barcelona and Real Madrid this season (Getty Images)

Newly promoted Eibar raised the capital required to take its place in La Liga next season, the Spanish club confirmed.

Eibar clinched the Segunda Division last term, having finished two points clear of Deportivo La Coruna, but saw its position in the top flight come under threat. 

New financial rules stated the club must raise 'share capital' of $2.47 million by August in order to take its place among Spain's biggest clubs. 

While Eibar has the smallest ground in La Liga, with a capacity of just 5250, and a budget dwarfed by the likes of Real Madrid and Barcelona, it remains debt-free.

And, after selling shares to people from more than 48 different nations, the club has raised the money required to meet the financial stipulations. 

Eibar's cause received widespread support from many in the game, including Real Madrid's Xabi Alonso. 

The Spain international spent a season on loan at the Estadio Municipal de Ipurua from Real Sociedad and questioned the logic behind the rules in May.

"It is contradictory that a club who has an enviable financial health and with zero debts is obliged to do this, when there are others who have much deeper problems," he said.

"I hope we can put in a big push to keep them where they deserve to be."

Source Omnisport