Deportivo have avoided administrative relegation to Segunda B at the last second, after an agreement with creditors, including the players, was reached.
Depor entered into administration earlier this calendar year, with combined debts found to be at €146m and saw their situation worsen with relegation from the Primera Division.
The judge handling the club’s administration ruled initially this summer that of the €11m due to past and present players, only the €6m due from January, when the club entered administration, could be authorised to be paid at first.
The players launched an official complaint to the Players’ Association (AFE), pushing for a guarantee that the remaining €5m would at least be paid eventually, or that they would press charges.
This latter threat was a condition that the Spanish Football League (LFP) stipulated had to be resolved by the end of July, or the club would face administrative relegation.
An agreement an hour before yesterday’s deadline was reached, with the AFE initially set to pay up Depor’s owed wages, before being reimbursed by an unnamed guarantor, who came forward at the last moment to resolve the situation.
Negotiations continue with regards creditors’ complaints against the club and their wish to be paid, with it believed that a preliminary deal for President Augusto Cesar Lendoiro’s future resignation has been reached.
