Deportivo Cali: they reject a key agreement for their economic salvation

deportivo Cali, one of the historic teams of Colombian soccer, not only fights against relegationbut also against a dire economic situation.

The club's deficit, according to the financial statements presented at the beginning of this month, is 113 billion pesos, which complicates its operation. The main creditors are the DIAN and the UGPP (Pension and Parafiscal Management Unit).

On October 28 of last year, the club announced that it had filed with the Cali Chamber of Commerce the business recovery agreement that allowed it to “guarantee compliance and honor of all the commitments made.”

However, the news is not encouraging. Journalist César Augusto Londoño revealed that the agreement was rejected.

“The Arbitration Court formed at the headquarters of the Cali Chamber of Commerce rejected the validation of the creditors' agreement within the special business recovery procedure of Deportivo Cali,” Londoño wrote on his X account.

What is going to happen now with Deportivo Cali?

The decision is a huge setback for Deportivo Cali, which was trying to take advantage of decree 560 on business reorganization. For this reason, the club will have to start a new process.

Cali is one of the few Colombian clubs that did not become a public limited company. For this reason, it could benefit from Law 550, which further delays the problem, as team sources revealed to the newspaper El País.

The Cali crisis also involves sports. The three consecutive defeats, against Tolima, Once Caldas and La Equidad, called into question the continuity of coach Jaime de la Pava. However, despite multiple press versions that assumed his departure, the coach was ratified.

Today, Cali is at serious risk of relegation. He has an average of 1.09 and only has two teams below him in the permanence table, Patriotas, with 0.45, and Jaguares, with 1.07.

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