By Gareth Messenger
June 6 – Real Zaragoza, Deportivo La Coruna and Real Mallorca face further financial meltdown after their relegation from Spain’s Primera Division last weekend.
Mallorca have just come out of administration and are operating on a very limited budget. Zaragoza and Deportivo have been crippled by debt. Zaragoza have €100 million, while Deportivo are €156 million in debt and have filed for administration. All three have been struggling to control their financial problems which now look like they can only get worse.
Mallorca is embroiled in a battle over who controls the club with majority shareholder, Lorenzo Serra Ferrer, up against by Pedro Terrasa and German Utz Claasen in a power struggle over share ownership.
Deportivo have been forced into making cuts across the board to reduce costs, including stopping the use of Wi-Fi in the press box and cancelling the purchasing of newspapers at La Riazor.
As reported in insideworldfootball last month, LFP president Javier Tebas has fears over the financial future of a number of clubs and Deportivo were on that list. Also on that list were Xerez CD and Racing Santander who coincidentally have also been relegated to the third-tier of Spanish football with their futures hanging by a thread.
The introduction of parachute payments offer struggling clubs a glimmer of hope, but while Zaragoza, Deportivo and Mallorca were receiving a sums of between €12-20 million in the Primera, they will now receive a figure nearer €3 million.
The final day of the Spanish season was tight at the bottom of the Primera, even if Barcelona were already runaway winners at the top. All the teams in relegation places could have stayed up but in the end it was Celta Vigo who claimed 17th spot. Deportivo and Zaragoza have both tasted relegation and promotion within the last six years while its Mallorca’s first time back in the second-tier for 16 years.
Mallorca’s record includes a Copa del Rey Success, a Cup Winners’ Cup final appearance, two third-placed finishes and a heart-breaking fifth-place finish in the Primera during their 16 year tenure.
Contact the writer of this story at moc.l1753026561labto1753026561ofdlr1753026561owedi1753026561sni@r1753026561egnes1753026561sem.h1753026561terag1753026561. Gareth is Editor-in-Chief, www.laliganews.tv @G_Messenger