SBD Global/January 23, 2013/International Football

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  • Deportivo La Coruña To Receive $13M After Spanish Court Ruling

    La Liga club Deportivo La Coruña has secured some relief from its financial troubles after a Spanish court "suspended the embargo" of €10.6M ($13.3M) owed by broadcaster Mediapro, according to EFE. The judge ruled the money was "a necessary good" so the club "could continue its activity" (EFE, 1/21). SOCCEREX noted the funds had been embargoed as part of the Spanish tax authorities' "clampdown on the club." In November, Spanish tax agency AEAT confiscated income from a number of La Liga and La Liga B clubs, with Deportivo "reportedly having all of its revenue seized." The club was said to owe around €34M ($45.3M) to the tax authorities, with its total debt sitting at above €100M ($133M). Deportivo secured promotion back to La Liga last season after being relegated in '10-11, but has "struggled on its return" to La Liga and currently sits bottom of the table (SOCCEREX, 1/22).

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