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Spanish Second Division Side Real Zaragoza Nearing Payment Agreement With Tax Man

Spanish second division side Real Zaragoza expects to sign "in the upcoming days" an agreement with the Spanish tax authorities that will guarantee the club viability and allow it to make the payments it owes, according to Sonia Gaudioso of MARCA. For the last two months, the "club has been unable to pay its employees or creditors, although everything indicates that it will be able to do so soon." Nonetheless, the "optimism that currently exists at Real Zaragoza has appeared before, only for things to change, so until a deal is signed, the club prefers to be cautious." At the beginning, the agreement will not "be on the terms that Real Zaragoza wanted, but the club will try to bring this about, although it is aware there will be difficult years." Once a deal is reached, players, coaches and others will once again be paid. The club "has enough money in its accounts to fulfill its obligations, but the topic of signings will be another issue" (MARCA, 1/20). In Madrid, Pedro Luis Ferrer reported the club was expected to announce at 7:30pm local time the details of a deal with the Spanish tax authorities. The "agreement is expected to require" Real Zaragoza to pay its €30M ($35M) debt over five years (AS, 1/20).

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