Elche beat last Friday’s deadline to pay up a raft of debt including money to the tax authorities and money owning to players was successfully beaten by a consortium of local business leaders who stumped up the cash. The payment means that Elche will be playing in the Segunda Division this season, as opposed to suffering a second relegation to Segunda B.
The Ilicitanos finished a very solid 13th in the Primera Division in May but they were relegated from the top flight for breaching league rules over unpaid debts to the tax authorities. Elche were then unsuccessful with a High Court appeal last month after the Court of Arbitration for Sport (CAS) also ruled that the decision by the Liga de Futbol Profesional (LFP) to demote them should stand.
They were facing the possibility of being further relegated to Segunda Division B, but the three million euro payment has been received by the Spanish tax man. A further one million euro debt that was owed to their players has been written off following an agreement with the Spanish Footballers’ Association. Elche’s next financial battle is next month when they will have to pay the tax authorities another three million euros. Juan Serrano (pictured)the spokesman for the local businessmen said that there was still a lot of work to be done and that was a complicated situation that they were trying to sort out before any form of normality could resume for the club.