Tax pressure on Espanyol

Any activity Espanyol may have been planning for the January transfer window may take a backseat as pressure grows to pay some of the tax that they owe.

The Catalans currently have a total debt of €23.5m owed to the Hacienda (tax office), of which €6m is due to be paid by an end-of-December deadline. However, it is believed that finding the money may risk further economic damage at the club.

It is reported that President Joan Collet has two options open to him to find the €6m in that short space of time. First is to attract foreign investment into the club and second is to finance the payment through the club’s television rights, equivalant to €1.5m per month.

However, it is also believed that pulling this €6m out of the club by the end of this calendar year will see Espanyol edge closer to bankruptcy, with it speculated that they would struggle to pay employees during 2013.

Espanyol's overall debt was last recorded at the end of the previous financial year at €144m.

Tags Collet Debt Hacienda Tax