In such a difficult exercise for the club's economy due to the consequences of COVID-19, Espanyol always has a shoulder to lean on. It is the Rastar group, owned by the parakeet president Chen Yansheng, who has again granted a loan to the blue and white club of just under 20 million, revealed by La Grada last night, to resolve possible treasury tensions due to the loss of income.
For Espanyol, this news shows the “commitment” of the president, that he has preferred that it be his company that takes charge of this credit instead of looking for other external investors. Since its acquisition in January 2016, the president has already invested more than 200 million euros in an entity that reduced its debt to 46.46 million last year and that, in the absence of updating Chen's latest payments, has already he had returned all the money to Rastar.
The parakeet club had already contemplated these credits in its exercise to face such a delicate season and keep afloat its plan to return to First the course after relegation. Items such as merchandising, ticket sales, season tickets, and some delays in sponsor payments due to the current situation have caused them to have to resort to these extraordinary income in order to be able to meet the usual expenses.
Espanyol works as one of the many companies that Rastar Group has, so this type of operation has already taken place over the years. Chen has carried out two capital increases in the perico club and has granted several loans to solve short-term treasury tensions, as happened with the payments to the Treasury in his first stage at the head of the club. This course Espanyol approved a record budget in the Second Division, of 72.5 million.