Espanyol clings to the CVC

An economically solid Espanyol hopes that it will be approved this Friday, December 10 el plan CVC to help First-class clubs to face their new projects with a high economic contribution thanks to LaLiga Impulso, also appreciated by Javier Tebas. That of Espanyol will be 78 million, as commented by the entity’s financial director, Joan Fitó, who detailed the three aspects in which the blue and white club will invest this money.

“We believe that it is the best project for the club. We are attached, but there are suspensive conditions: that it be approved tomorrow in LaLiga and that there must be a minimum number of clubs. This money will be applied to the debt, and then to new investment projects that generate future income, which will be three: improving the Fan experience, digitization and looking for a sports city that duplicates the spaces “, admitted Fitó.

It was the CEO, Josep María Durán, who spoke at length about the vote this Friday in the LaLiga assembly. “I believe that it will be approved, it is only to know the votes against and the abstention “. And it has not shown any doubt that this proposal is stronger than the one they propose Real Madrid, Barcelona and Athletic Club, who are against the idea of ​​Thebes.

Durán was graphic when he spoke of the CVC (“it began many months ago, it was presented in August, the negotiation was authorized, there is a concrete proposal”) and the alternative of the three clubs (“it was a Power Point a week ago. We believe in serious projects“). For the CEO, the CVC is a” risk “operation, since the clubs are also waiting to know the new television agreements that they can “cause income to decline“, although they assure that there is a” legal protection, our lawyers have studied it. “

Although this plan has not been approved, Durán commented that the League has already given 15% to the clubs to be able to increase their salary limit. In this case, Espanyol’s is 77 million, although “we are not using it all, it is for three years.” Despite this, and awaiting tomorrow’s decision, the CEO commented that “we are the best capitalized team in all of LaLiga, it is a unique moment, the best for as long as I can remember.” The CVC will not imply that the club forget your treasury tensions: It is obliged to earn 20 million in other items before June 30. “If there are sales, they would be once LaLiga is finished”Durán said, adding: “We are looking for other avenues.”

“We take the course to overcome our historic ceilings”

The CEO himself, who had previously broken down the numbers of the previous campaign approved by 99.99% of the attached shareholders, launched a regular message in his speeches. The club lives “A historic moment”. “We are in the asset consolidation phase to focus everything athletic performance with financial support. We do not want to sell out of necessity. I have never seen such a serious project at Espanyol: with a unified management and a shareholder that provides resources, we take a course to overcome our historic ceilings”.

Josep María Durán described the 2020-21 academic year as “complex, due to the decline and due to COVID”. He stressed in his presentation the will from the first moment to maintain the workforce despite the fact that this could entail losses in the year. “We conspired to convince the president not to sell himself to anyone, and it was easy”, he stated. Ordinary income went from 98 to 50 million, while the decrease in the cost of the staff was less, from 69 to 48, to stand at 77 the current year in which “everything is covered until the end of the year”.

All this, together with the sporting success of returning to the First Division, caused the club to come out “more reinforced”, with more “Equity, more sports equity and less short-term debt.” The historic figure stands at 20 million now. All this thanks to the capital increase of 38 million.