Deportivo files for bankruptcy
Deportivo La Coruna has become the latest Spanish Primera Division team to seek assistance to avoid going out of business after announcing on Thursday that it has filed for bankruptcy protection, reports SportBusiness. The Galician club has submitted documents to the courts to request that it be permitted to re-negotiate its outstanding debts.
The latest development means Deportivo becomes the eighth club from the Spanish top flight to either be under bankruptcy protection or still be paying off its restructured debts after emerging from protection.
The club was last month said to owe around Eur34 million to the tax authorities, with its total debts sitting at above Eur100 million.
Deportivo won promotion back to the top division last season, but currently sits 19th in the table, just one point above bottom-placed Osasuna.