Espanyol is sailing in First Division under an economic burden that threatens to drown it. In recent years Chen Yansheng, president of the club through Rastar Group, has carried out capital increases with the sole purpose of keeping it alive, but not to make it more competitive. This evident neglect contrasts with the constant refusals to sell it when there has been a serious offer. Meanwhile, the growing debt has reduced the club’s salary limit, estimated at 8.5 million euros at the beginning of the season and, with it, its ability to go to the market.
Espanyol’s debt, which this year rose to 67 million euros after declaring losses in the previous year of 13.6, ties the entity’s hands and feet. Espanyol will not be able to grow in sports if it does not clean up its accounts first. Article 100 of the LaLiga regulations means that only 20% of the proceeds from a sale count towards the salary limit. On the other hand, for any signing, this calculation computes the player’s salary and the years for which he has been signed.
Garagarza already had to use his ingenuity this summer to be able to incorporate players like Král or Kumbulla
This extreme situation has meant that Espanyol cannot sign. He couldn’t do it either in the previous winter market, nor in the summer when he was promoted to First Division, nor will he be able to do it in this one. Specifically, in the last two years, which coincide with the arrival of Fran Garagarza, the sports management has had to assemble the squad without being able to spend any money.
This situation forced Garagarza last summer to use ingenuity to attract high-level soccer players and register them. This is the case of loaned footballers who arrived from foreign teams. Král, Kumbulla, Cardona and Véliz are players with high salaries that Espanyol would never have been able to deal with if it were not for the fact that, as they are transfers from other countries, they enjoy a tax regime that benefits the destination club.
The only way out is to find a way out for the players who have counted the least for Manolo González
Even so, Espanyol needed to incorporate national players with experience in the category, such as Álvaro Tejero, who also arrived free. In order to register the Madrid native, Garagarza opted for the formula of signing him for one year and making a second conditional on the team’s permanence in First Division. That second conditional year did not count towards the salary limit. De facto, Tejero will stay if the team is not relegated. Another curious case was that of Naci Ünüvar, who has barely had minutes with Manolo González. The Turkish winger, in whom there were hopes of being an important player, was registered in the reserve team thanks to his youth (21 years).
These operations took away the little salary limit that was available. For this reason, since September there has been speculation that a new capital increase, announced by CEO Mao Ye after the summer, could allow this amount to be increased, but any capital increase would not favor the current salary limit for this market. It is an injection (there is talk of 40 million), if it arrives, it will be at the end of the course and will positively affect the salary limit for next season.
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The only way out for the sports management to improve the current squad in this market is to find a way out for the players who have counted the least for Manolo González. Both owned players and transfers.
There it is inevitable to point out Salvi Sánchez, a 33-year-old winger, who has only played 56 minutes this season. The Cádiz native ends his contract on June 30 and due to his age he hardly has a market except in the Hypermotion League. A termination is not contemplated due to its high cost. Together with him, the club would open the exit door if they requested Álvaro Aguado, Pere Milla and Fernando Pacheco.
The departures of Salvi, Pere Milla or Alejo Véliz, among others, would open a way to sign
As for those on loan, the problems up front force the club to rethink the loan of Alejo Véliz. His youth has been a drawback when it comes to showing his best level, and Espanyol could go to his club of origin, Tottenham, to try to finalize the loan. Ünüvar is another candidate, although having a record in the reserve team would force them to look for a player in the same conditions.
Only if Espanyol manages to get rid of the chips of all these players that González does not have, something that seems very complex, could they go to the market with certain guarantees to improve the current squad.
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