Llanera declares insolvency

As predicted by Spanish sources on this blog earlier in the week, Llanera has declared insolvency with debts approaching €750m:
Broke

Presumably Charlton will now look for a new sponsor, indeed informal feelers may already have been put out. Perhaps a firm specialising in insolvency might be appropriate?

Although the deal was worth over £600,000 in the Premiership, it was presumably worth less in the Championship. It is not known if any of this year's money has been paid. To put the sum involved in proportion, the 'parachute' payments provide around £11m.