Elche CF this morning received confirmation from the LFP judge, Manuel Rivero that the club is to be demoted to the second division for failing to issue their certificate of positive payment to the Spanish Inland Revenue. Last Friday the club presented an IOU to cover their tax debt which totals 3.6 million euro and agreed a repayment plan with the tax office to facilitate the outstanding debt.
Judge, Manuel Rivero based his decision on the outstanding debts with the tax office and that no guarantees were set in place post July 28 which was the expiry date of the IOU presented by Elche club president, Juan Anguix. The club, now aware of the verdict is planning to exhaust all possible appeal lines open to the club to desperately try and secure their place in the top flight.
This administrative demotion plunges the club into deep trouble as they now desperately need to secure 14 million euro to cover their outstanding debts to pay players, club staff and other businesses who the club holds debts with. A further demotion to 2B is another possibility if they fail to shore up these debts.