Club news

COMMENTS FROM THE ADMINISTRATORS

13 Jul 2013
The administrators of Deportivo have finally talked to the media; they now see a light at the end of the tunnel as there are ongoing negotiations with the creditors, but they still think that a lot still to be done.

The newspapers and radios have been pushing for a press conference of Depor’s administrators in order to talk of the delicate situation of the club. In the end one of the two administrators, Francisco Prada Gayoso, talked to newspaper La Opinión A Coruña and explained the current situation at Deportivo.

Last week the administrators sent an e-mail to the club and the creditors of Deportivo; it was a disturbing message that was understood as an ultimatum; they were menacing to request the liquidation of the club if they don’t see any improvement in the blocked negotiations regarding the payment of Depor’s debt.

Prada admitted that, beyond trying to liquidate the club, it was more a way to push the board of the directors and the creditors in the quest for a solution, “If you need to make a push in order to provoke a definitive reunion, Why not?” He said defending their move.

“The terms of the agreement are to be discussed between the creditors and the debtor. Next, if there is a concrete proposal, we are the ones that must analyze and pass a report to the judge and everyone else. Apart from our legal obligation, we cannot stand idly by. The normal thing is to ask all the parties involved to try to reach agreements." He explained.

The good news is that the administrators are convinced that the situation had improved compared to the inactivity of two weeks ago, though a lot still to be done, “Now there’s some movement. It seems they are searching for solutions and alternatives, though it doesn’t mean everything is fixed.”

"We have information that things, albeit slowly, seems to be going forward. It seems that from the inactivity of one month ago they have passed to be looking for alternatives and solutions. Not that there's anything new, transcendental and it neither means that everything is resolved.” He added regarding the issue.

Prada was pointing to July 31 as the deadline to reach agreement with the creditors, “I hope things will be normal and the reasonable thing is that we can have a final agreement at the end of July, because the deadline is approaching. We cannot say that things are stopped, because there’s activity. We need to materialize the negotiations into a deal. We need to have an official proposal."

Lendoiro and the board of directors presented a viability plan in which they were requesting to pay the debt in 20 years; the member of Cyrex told to La Opinión that this plan still part of the options, “Nothing has been ruled out. One month ago things seemed stopped and there were no good news on this. Now it seems that all the options still on.”

Finally, Prada explained that’s possible to pay the unpaid wages to Depor’s players and employees without sealing an agreement first, but the condition is the approval of the creditors that have frozen the bank account of the club, “We understand the problems and all we need is to see the parties involved giving their approval.”

ARCHIVE NEWS JUL/13

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