An aseptic Chen Yansheng starred in a video on July 9, 2020, the morning after losing at the Camp Nou (1-0) and certifying the relegation to Second 26 years later, to send a message to parakeet fans. “The main responsibility for the sporting result is mine. We face the year as an exciting challenge and we have failed”commented the president, who, five months and a day later, publicly reappears with the second-ranked team in LaLiga SmartBank and with a firm trajectory towards direct promotion.
The General Shareholders' Meeting held online today (12:00) will certify the two faces of the 2019-20 season of Espanyol. On the one hand, the terrible sports management that caused the decline, but on the other hand the robust economic situation, which places Espanyol with a profit of 9.1 million despite the pandemic (20.7 was stipulated) and a budget for 72.5 million season, the highest in Second Division history. The capitalization of what was owed to Chen also caused the perica debt to fall to 46.46 million.
Chen will open the melon and present his report. Although the Rastar owner is not very keen on making big headlines or delving into his thoughts, he will break his silence. The approval of the accounts will have practically unanimous support. Espanyol has benefited from aid from LaLiga, television rights and its 26 years in the Primera in a row, and continues to enjoy iron financial health, a dream before the arrival of the president.
David López and Rdt.
ALBERT GEA
The previous season closed with a record income of 135 million euros. The sale of Borja Iglesias to Betis for 28.1 million, the European participation, which generated 13.4, or the commercial section, which also produced 13.27, helped to multiply this item. The impact of the winter market, where Espanyol spent 42.5 million, did not affect the economy in the short term, although everything will depend on the upgrade in the first year to be able to amortize leonine contracts such as Raúl de Tomás.
The club will also announce other economic aspects that refer to smaller but equally important items, such as the ERTE that it carried out to employees, investment funds that have been reinforcing the club's treasury or aspects more typical of management and loss of income due to fertilizers. In the social area is where the majority of shareholders who ask to speak will fire. A tradition that could also wane, taking into account that it is wanted to approve that only those with more than 100 shares can make their requests and questions.