The Iberian Issue

Rising economic questions in Portugal and Spain have seemingly touched the football community.  I recently read a few articles in Businessweek, which got me thinking... What effects, if any, does this "sovereign debt crisis" have on the soccer across the Atlantic?  

http://www.businessweek.com/articles/2012-04-26/spanish-soccers-economic-crisis

http://www.businessweek.com/articles/2012-03-29/austerity-hits-soccer-fans-and-clubs

Surely less money will flow into the pockets of these Iberian clubs.  Simply put, they just do not have the resources, the capital, and the economic conditions to flourish.  But, that hasn't stopped a majority of European teams before.  We only have to look at Manchester United to see a team operating with absurd amounts of debt, yet doing just fine in the sports world.  A team like United, along with a plethora of other squads, acts like a charity according to Soccernomics.  No matter how bad the financials look, they will always have undying support and a revenue stream. 

Portugal and Spain will be fine.  Yes there will be a few clubs that fold, but that's to be expected.  Teams like Real Madrid and Barcelona in Spain and Benefica and Porto in Portugal will continue to remain relevant.  The money will come one way or another.  It is just a matter of time before the TV contracts are sorted.  At that point we will switch our attention to the Italian Serie A.