Algeciras announced over €0.75m debt

The Segunda Liga club has revealed that it has debts of approximately €767,000 which will not be paid off until the 2008/09 campaign. The majority of the debt is the outstanding wages owed to players, which amounts to €415,699 and is set to be paid over the next three years. The only way the club avoided automatic relegation to the Third Division was by agreeing to pay half the salaries owed, some €207,000, by 20 June. The players have promised not to take the matter to the union if that amount is forthcoming by the stipulated date. The funds will come from a loan provided by banks on account of a grant due from the local authorities for next season.

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