Budgets: Deportivo La Coruna file for bankruptcy protection

News Tank Football - Paris - News #6839 - Published on 11/01/13 at 09:00

Spanish club Deportivo La Coruna have filed for bankruptcy protection on the 11/01/2013. According to El Pais, their deficit stands at €100m, of which at least 70% is owed to the Spanish Treasury (taxes). This level of deficit is double their annual budget, which in 2010/11 was €55m.

Currently second bottom in La Liga, Deportivo were relegated to the Segunda Division for the 2011/12 season but immediately promoted and returned to La Liga for 2012/13.

The club filed for pre-insolvency in November 2012. At the start of the season, the Spanish Treasury confiscated €15m of the club's revenue (mostly TV rights).

  • Spanish champions in 2000, runners-up in 2001 and 2002, winner of the Copa del Rey in 2002, Real Club Deportivo de La Coruña used to be one of the most successful teams in Spain. 

  • The club in the northwest of Spain participated in every Champions League competition between 2000 and 2005.

  • Since 1991, they have only spent one season outside of La Liga, when they were relegated to the Segunda Division for the 2011/12 season.

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