As the Grecians battled on with their hands tied throughout their maiden Conference season, City Vice-Chairman dedicated huge amounts of effort to negotiating a settlement with all of the existing football creditors.
It was believed a compromise had been found in May when former manager Neil McNab had his debt incorporated into the Grecians' CVA, and City have since been keenly awaiting the green light from the Football Conference to allow them to start trading again.
However, it has today emerged that the FA's Compliance Unit is blocking any moves to have the embargo lifted.
According to the FA, there is still a 4-figure sum owed to Gui Rivaud - a former assistant comercial manager who had a very short 6-week stay at the club during the ill-fated reign of John Russell.
Tagg is convinced that Rivaud doesn't qualify as a Football Creditor - thus he should have no bearing on the embargo - and has accused the FA of acting "somewhat zealously".
Speaking to the Echo, he explained "I said to the FA's compliance unit that it was becoming ridiculous - it doesn't seem right that they can keep coming up with a new person to stop us from having the embargo lifted. When I started to have a real go at them, they said they would look at it again."
Whilst the FA were not prepared to comment, Conference Cheif-Executive John Moules was keen to stress that both the Conference and the FA were just 'following the rules'.
According to Moules, because Rivaud was sacked as opposed to having his contract mutually terminated, he falls into the Football Creditor category.
"Exeter can get the ban lifted at any time as soon as the football creditors are settled." he said.