Costa Rican Football Rocked as Santos Deemed Technically Bankrupt by Fedefútbol

Costa Rican football is facing an unprecedented financial crisis after Fedefútbol notified Santos de Guápiles that the club is in a state of "technical bankruptcy," Futbol Centroamérica reported. This revelation follows the recent disqualification of AD Guanacasteca, and could leave the upcoming Apertura 2025 tournament with only 10 teams.

According to details accessed by ElMundo.CR, the Licensing Committee found that as of December 31, 2024, Santos had a negative net worth of over ₡253 million. Though the club claimed to have resolved tax and social security obligations in February to register foreign players, it remains unclear whether payments were made or merely rescheduled.

The audit reveals a grim financial picture: over ₡129 million owed to the Ministry of Finance, ₡123 million to the Costa Rican Social Security Fund (CCSS), and another ₡211 million in tax provisions. Worse still, the financial report submitted by Santos failed to meet international accounting standards, missing key elements like cash flow statements and full explanatory notes.

One of the most alarming findings involves a $113,000 transfer from a company named Samara Hot Properties S.A. Santos was unable to provide documentation explaining the source or use of the funds, raising further red flags for the Committee.

Under Articles 70 and 71 of the Licensing Regulations, the club now faces sanctions ranging from fines to temporary suspension—or even permanent revocation of its license. If that happens, Santos would become the second team expelled in less than a month, plunging Fedefútbol into a deeper institutional crisis with long-term consequences for the country’s top-tier football.