The last few years have been very difficult for Deportivo Cali. Since the second half of 2021, when they won their most recent league title, the club has gone into a tailspin and is now in the midst of a fight to avoid relegation to the second division of Colombian football.
According to the criteria of
As of May 31 of this year, the club’s liabilities amount to 114 billion pesos, in a very complicated situation. And in terms of sports, Cali is in 17th place in the relegation table, with just seven points ahead of Jaguares, who today would go to the B.
On July 2, Deportivo Cali requested a restructuring from the Superintendency of Companies to try to find a financial solution to settle its debts. The club reported assets of almost 142 billion pesos.
“The reasons for the application for admission include the consequences of the pandemic, which caused a decrease in its box office income and monthly membership fee payments, as well as the suspension of sponsorships or scheduled disbursements, among others, which affected the liquidity of the Association,” Supersociedades reported.
Supersociedades admitted the restructuring process of Deportivo Cali
The good news for Cali is that the entity agreed to begin the process. It is worth remembering that this is one of the few clubs in the first division that did not become a public limited company.
“The restructuring of Cali seeks, through an agreement with its creditors, to reestablish its payment capacity, to adequately meet its obligations, as well as the adoption of administrative and financial measures for its economic preservation,” said the Superintendent of Companies, Billy Escobar Pérez, in a statement.
“This is evidence of the commitment to the reactivation and rescue of this Superintendency, aimed at preserving and strengthening companies and employment,” he added.
The Superintendency explained what the next step of the process will be: “After admission, the promoter must proceed to the qualification and grading of the credits, determination of voting rights and debts, which, once final, will start the negotiation stage of the agreement between the Association and its creditors, which must be completed within a maximum period of 4 months and, subsequently, to the celebration, for which they have another 4 months,” said.
The entity had revealed a few days ago the financial performance of professional football clubs during 2023 and in that period, Deportivo Cali was the club that generated the most losses: 25.24 billion pesos.
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