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LENDOIRO: “DEPORTIVO WON’T DISAPPEAR”

03 Jul 2013
Depor’s president faced the media after the ultimatum sent by the administrators; he defended the work done so far and assures that nothing will happen, basically because there’s enough money to face the club’s obligations.

President Augusto César Lendoiro seized the presentation of Lux in order to explain during twenty minutes about what’s going on at Deportivo. There were many concerns in A Coruña after it was known that the administrators informed the club and the creditors that they have fifteen days to solve the problem with the debt, because in other case they would have to liquidate the club.

He assured that nothing will happen, because there’s a plan and enough money to face the debt, but that before any agreement the judge needs to determine the real debt of the club. He was calmed, though there were tense moments, like when he reprobated the articles of journalist Luis De La Cruz presented at Sportpaper AS.

First to all the president talked of the so-called ‘ultimatum’ coming from the administrators, “We received this communicate from the administrators. I won’t say what I think. Just that it is affecting the possible agreement with the creditors. But for me it isn’t an ultimatum. They should be the ones answering why they sent it. We just want to say to the fans that Deportivo won't disappear. I don’t know why the administrators sent this communicate. Perhaps they think it would be perfect to sort things before August.”

Then he talked of the viability plan to survive at Segunda, “There was a plan, made in May, but based in Primera División, unfortunately we suffered the relegation on June and we´re at Segunda. We presented a new viability plan to the banks, la liga and the administrators. The plan wasn’t erasing part of the debt, but was distributing the payments within the next twenty years. We are pending to discuss it with the banks. The viability plan was made according to the new reality. Deportivo is asking to the creditors to study the plan. No one has responded yet. We have requested a meeting with the banks and they haven't responded.”

A thing clarified by the president is that they still waiting to see the judge establishing what the real debt is, because the debts reclaimed by the creditors haven’t been accepted, later the payment plan must be sealed. “Some creditors won’t respond as there is no bankruptcy estate. I mean we don’t know yet what debts will be in and what debts will be taken off. To learn the amount to be pay is a basic thing, for both the clubs and the players, and also for the Tax Agency. At this point we don't know the exact amount of the debt with the players. Some of their wages will be included in the debt that must be paid in the short-term. We depend on the judge to determine the real debt. I expect the exact amount will be known in fifteen days."

Perhaps one of the most interesting arguments of Lendoiro is that Depor cannot disappear, simply because there’s enough money to assume the short-term obligations, “There are eleven million Euros on the bank account of the club. How can we be talking of liquidation? Here we need to talk with all the parties involved and reach an agreement of how to redistribute the money. In a single meeting and without anybody leaving. It’s the only way. Nobody can liquidate a business that has money and a viability plan.”

“Right now we are battling in several fronts. The administration, the pre-season, the signings, the affiliates… A lot still to be done.  We need tranquility, because there’s money. Things would be different without it. Nothing has happened on here. Nobody has taken the money. We never wanted to go on administration." He added



Lendoiro with his advisor Jesús Rebollo during the press conference
Another interesting thing is that Depor’s boss confirmed that they asked the banks to forgive part of the debts [a possible thing in the administration process] but that the banks refused, "It isn't true that we want to pay the full debt just to see the president leave without consequences.  We have asked the banks to forgive part of the debt and they denied the petition. All I can say is that nothing will happen. What else can I say?" Later he confirmed that they asked to cut the 30% of the debt, something that was denied by the banks.

Despite the recent conflicts and confrontations with the administrators [CYREX] the president confirmed that he has on problems with anyone. "I don't want a war with the administrators. What I want is to find the formula. Mr. Prada [one of the administrators] is one of the most qualified persons in this business. I’m sure he knows what to do.”

He was also asked about the growing opposition to take him out of the job, but Lendoiro assured that he’s ready to go to any election, "We have been here for twenty-five years and we recognize that the club has an important debt. Yes it is my fault. But I'll be in all the elections that we could have, because I feel the obligation with the people that trusted in me for twenty-five years. I could win or lose, but I feel an obligation with the people that trusted, not only in me, but in the whole board of directors."

Finally, Lendoiro assured that the seven subsidiaries won’t be closed, though he left the impression that some of the employees will be fired, "I want to say that there's a dialogue with the administrators regarding the subsidiaries. I have been told that nothing will be closed, but we’ll have to make tough decisions. We have more than 100 workers and it seems that no one cares about them, but we are with them and will defend their jobs.”

ARCHIVE NEWS JUL/13

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