President Augusto Cesar Lendoiro has admitted to feeling ashamed at seeing his club Deportivo enter into bankruptcy proceedings.
The Galician outfit applied for administration this week battling debts reportedly beyond the €90m mark, after Lendoiro failed to renegotiate payments with creditors.
“This makes me sad and ashamed, but there was no other option. Between 85 and 90 per cent of the debt is with the government and banks,” Lendoiro reflected to reporters this week.
“This is a different stage, but it has given me much strength to continue. There is total viability in the club.
“I would give high marks to my management of these 25 years at Deportivo. I expect to stay here day to day.”