"Barring a miracle", Deportivo La Coruña is to enter administration imminently, the club president Augusto César Lendoiro has confirmed. The club has been plagued by financial trouble in recent times.

The La Coruña supremo believes that there is no other way out for the club, which had recorded debts amounting to €98.7 million as of 30th June this year. "If we don't reach an agreement with Hacienda (the Spanish tax authorities) in the next few days, we will go into administration. We cannot wait any longer", Lendoiro stated.

"The squad is very relaxed, all the more so having spoken to AFE (the Spanish Footballers' Association) and the club. Should we sadly have to resort to our plan B, people shouldn't get carried away because the club remains completely viable, our revenue per season outstrips our expenses. The problem is the debt and the stranglehold in which the banks and the tax authorities are holding us", he added.

According to the club's accounts, Deportivo's current debt stands at around €100 million. However, while admitting that this figure is "extremely high", Lendoiro insisted that the Galician outfit has a future, claiming that "there is no chance of the club being automatically relegated" due to its money woes.