Sevilla president Jose Maria Del Nido has said the heavily-indebted club still owe more than €3 million to players in back wages from last season - but claimed 90% of Spanish sports clubs are even worse off.
The club's total player wage bill for the 2011-12 season was €42.5 million but their financial situation means that, nine months later, €3.25 million has yet to be paid to 11 players.
Del Nido said the delay in paying this percentage of the total due would be resolved by issuing IOUs to the players still owed money.
"Last week I personally met with the players in the squad with whom we have delays from 2011-12 in groups of five," he said. "Of the 25, there are 11 players with delays.
"Of the total squad salary in 2011-12, €3.25 million remains to be paid, which does not even reach eight per cent of the total - 90% of the sporting entities in this country would like to be in Sevilla's financial situation.
"The payment calendar will include IOUs which will be set for a fixed date, at least five months away."
Last December, Sevilla's AGM heard that the club's annual revenues had fallen by €40 million over the last two years due to a lack of European success, and that this season would bring a deficit of €15 million.
Del Nido had previously said stars such as Alvaro Negredo could be sold to cover the losses.
Sevilla will almost certainly qualify for next season's Europa League should they overturn a 2-1 Copa Del Rey semi-final deficit at home to Atletico Madrid later this month because they would face Barcelona or Real Madrid in the final.
However, UEFA's crackdown on clubs with financial problems, which saw fellow Andalucians Malaga receive a European ban in December, means all clubs who wish to compete in Europe next season must settle any wage issues by March 31.
But when asked how much concern he had about the possibility of UEFA banning Sevilla from Europe, Del Nido said: "Zero."
The 55-year-old has been Sevilla's president for ten seasons. Once a lawyer for ex-Atletico Madrid president Jesus Gil, he is appealing against a seven-and-a-half-year prison sentence imposed for fraud in December 2011.