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SBD Global/October 11, 2013/Finance

Report Shows Spanish Second Division Side Deportivo La Coruña $217M In Debt

A report about Spanish second division side Deportivo La Coruña's debt and "its active bill shows a debt" of nearly €96M ($130M) with the Spanish tax authorities, according to the EFE. Of that €96M, €34M ($46M) could "be reduced if the club can reach an agreement with bankruptcy administrators." Deportivo's total debt has reached €160M ($217M), which is €4M ($5.4M) more "than it was in the most recent report." Of the €96M that Deportivo owes to the Spanish Tax Authority, €62M ($84M) is "considered special privileged, and therefore cannot be reduced" (EFE, 10/10).
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