Survive, which is not little. That is the reality of Espanyol, full of dark clouds both economically and sportingly. After being eliminated in the King’s Cup against a team from the fourth category of Spanish football such as Barbastro, today it was time to explain at the shareholders’ meeting the economic situation of the club, in which a debt of 13, 6 six million in the previous year and has presented a budget of 83 million for the current year, in which they expect neither profits nor losses. Once again Chen Yansheng, owner of the club who has not visited Barcelona since August 2022, appeared through a recorded video to convey a message of encouragement in the face of so much frustration.
Espanyol’s present is a debt of 67 million euros, with participating loans of 40 and 12 million with Rastar Group, who is a lender and creditor on par with the club. A debt that has increased by 13.6 million due to the losses of this season. These figures are 4.7 million higher than budgeted (8.8 million losses). The club explains this deviation in the costs caused by the promotion playoff. In addition, it has reported bonuses for the promotion of 8 million and values the increase in income from promotion to first class at 22.5 million, which places the budget for this course at 83 million, of which 70% corresponds to the investment in the first team.
The club plans a capital increase for the end of the season
With these numbers, the club will not be able to go to the winter market, as confirmed by Joan Fitó, responsible for the economic area, because the salary limit of 8 million euros was exhausted in the previous summer market. The debt that is suffocating the club has caused this salary limit to be drastically reduced this year and has completely tied up the entity in terms of transfers. That is why the entity plans a capital increase for the end of the season, although the date and amount are unknown.
Nobody hides, Chen Yansheng himself alluded directly in his speech, that the club’s economic situation is weighing down the sporting situation, but as the club’s CEO, Mao Ye, explained, “as we have seen in the past, investing does not guarantees nothing. We have to take other factors into account.”
Espanyol does not have a salary limit to go to the winter market
Regarding last season, Fitó explained that income has been reduced by 19 million compared to the previous season (from 80 to 61) despite the fact that sales amounted to 18 million (thanks to the transfers of Montes and Darder). In addition, the business line was reduced from 75 million to 24 million, with a significant decrease in television rights, to 10.6 million. For this course they will increase to 43.1 million.
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