Fans try to save broke Spanish team Oviedo

JOSEPH WILSON Associated Press Published:

BARCELONA, Spain (AP) -- Faced with impending bankruptcy and extinction, the debt-ridden Spanish soccer club Real Oviedo has discovered a precious asset that may yet save it from doom: the loyalty of its fans.

As one of many clubs struggling to survive in the country's economic crisis, Oviedo needs to raise nearly 2 million euros ($2.5 million) by Nov. 17 to stave off legal writs that would force its dissolution after 86 years.

But thanks to a novel fund-raising effort -- selling shares in the club at cut-rate prices -- and a rampant social-media campaign, the third-tier club is halfway toward reaching its target.