Competition news


22 Dec 2012
As always president Lendoiro didn’t face any opposition in order to approve the financial reports and the budget of the season, and that taking in mind the delicate moment inside and outside the pitch. He said to be worried for the situation in liga.

The shareholders meeting of 2012 took place on Friday’s night at school Santa María del Mar. Only 69 shareholders were in the event; the secret of the president is that he controls big part of the shares as the major part of them are delegated to him or to other members in the board of directors. In this sense 23,429 shares were represented during the meeting, which means the 17.98% of the total.

It was enough to make the quorum and it was a similar percentage to the one had last year (18.63%). The meeting lasted three hours. There were some shareholders criticizing the transparency of the financial information and the contradictions with the audit reports. In this sense the shareholders were divided in two groups, one group supporting Depor’s president and  accusing newspaper La Voz de Galicia for the club’s problems and the ones criticizing the president.

In the end there wasn’t any problem to approve the five motions of the day. The financial reports of the season 2011/12 were approved with 23,229 votes in favour (99.17% of the total sharers represented in the meeting). Then the shareholders approved the management of the board of directors with 23,349 votes (99.66% of the total).

Then the shareholders approved the economic result of the period 2011-2012. 23,323 votes approved the motion (99.55% of the total). For the final two motions some shareholders were already out of the meeting.
The budget of the season 2012/13, which was calculated in €39.88 million, was approved with 22,704 votes (96.90% of the total). Finally, the shareholders agreed in the composition of the board of directors.

Among the most important things said by the president is that he admitted that to see Depor on administration is a matter of days, “Little by little the figure of the administrations look inevitable. But I believe that the financial problems of Deportivo will be solved in a maximum period of time of 20 days.”

Regarding the problems with the Spanish Treasury, he commented that, “The Treasury wants to collect the money in four years, while other clubs have received a period of eleven years –on Friday it as known that CA Osasuna will have ten years in order to pay the €40 million owed to the Treasury- They want a guarantee and ordered the embargo over the television incomes, something that was pledged by bank Nova Caixa Galicia.“

It called the attention that Depor’s boss didn’t confirm the continuity of Oltra, instead he said to be worried for the situation in liga and promised to start working since tomorrow in the arrival of new signings, “Today we´re closing the economic aspect and since tomorrow we’ll focus ourselves in the sporting sense. That’s the biggest problem of Deportivo and we assume our responsibility. The problem of the club isn’t economical, it’s a sporting issue.”



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