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Spanish tax authorities impose embargo on Deportivo

President Augusto César Lendoiro has admitted the club owes around 34 million euros although some sources believe the actual amount to be closer to 90 million euros.

As.com

The Spanish tax authorities have imposed an embargo on all revenue earned by Deportivo La Coruña, including from advertising, television rights and ticket sales, due to the outstanding debt the club has to the government.

The dire financial situation currently afflicting Spanish football has lead the tax authorities to put into practice a plan to recuperate the 700 million euros owed to it by clubs in Spain's top two divisions.

According to the newspaper 'La Voz de Galicia', Deportivo have already lost 14 million euros in television rights, receipts from their game with Barcelona on 20 October and income from various sponsors. This amount has been added to the 500,000 euros the club received in prize money for earning promotion to the Primera División last season.

The exact amount of money that Depor owe the government is not known. President Augusto César Lendoiro has admitted the club owes around 34 million euros although some sources believe the actual amount to be almost triple that, and closer to 90 million euros.

Lendoiro has made no official statement in light of the debt, while sources cited by 'La Voz de Galicia' claim the club are preparing to go into administration.

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