Elche’s place in La Segunda next season has been all-but-confirmed after the Court of Arbitration for Sport (CAS) dismissed their appeal on Monday.
The Valencians finished 13th in La Liga last term but were demoted due to the non-payment of debts to Spanish tax office Hacienda, resulting in Eibar being reinstated to the top flight.
However, Elche have since announced on their official website that their appeal has been rejected, although they are now expected to take the case to the Spanish courts.
As a scant consolation, CAS has effectively halved a financial penalty from €180,303.63 to €90151.83.
Elche President Juan Anguix previously stated that reinstatement was vital for the club’s long-term viability.
Los Franjiverdes were hopeful that a promissory note would have given them extra time to cover the outstanding €7m, but neither Hacienda nor the LFP accepted the proposal and the side were subsequently handed a record punishment for the offence.
They must also meet a July 31 deadline for payment of their tax bill or face further demotion to Segunda B.
