Club news

PACO ZAS & FERNANDO VIDAL

18 Dec 2019
President Paco Zas lived a complicate moment during the shareholders meeting, while Fernando Vidal confirmed that he wants to be the next president.

The main two actors in the 2019 shareholders meeting were Paco Zas and Fernando Vidal. The current president had to deal with the criticism and tried to explain the crisis at the club. In the case of Vidal, he was the only one that’s giving a step forward as he confirmed his candidacy to the elections to take place in January.

PACO ZAS
The current president faced chants and insults each time he addressed the public, he talked to the crows and the only time he heard applauses was when he talked of Depor Ladies and their current run. The following is a transcription of the main things he said.

The situation and future of the club: "The hard and painful reality is that we are the last place and in the middle of an undesirable environment. By responsibility, we activate the process of change so that others can set up their projects and work with time in the January’s market."

The mistakes made:  "I assume my responsibility and my mistakes. If with this step to the side the next board can work calmly, we will be right in our decision. I assume my responsibility with all the pain of the soul. Believe me that we have dedicated many hours to the club trying to overcome the problems that arose, and that we have put all our interest at your service. But in football you are judged by what happens on the pitch and things are wrong now. If with this step to the side we allow the squad and coaching staff to work calmly, and the next board could work with widespread support, then we will have achieved our function. "

The financial situation: "The numbers we analyze today are the cold reflection of the abysmal difference between Primera and Segunda. The amount of adjustments to meet the requirements imposed to participate in the League and meet our financial commitments has been huge during all these months. In the end , tightening the belt and optimizing each euro has been the core of our work. A work virtually invisible but essential for the team to compete in the best conditions."

"It has been months of asking for efforts from sponsors and companies, who haven’t been rewarded by the things achieved on the pitch. We thank everyone for their generosity and of course we give eternal thanks to all the fans. About te fact of not getting the expected promotion, the club has no problem to continue competing. All economic and financial situations are verified and audited, and I hope they are approved at the end of this meeting."

The failed promotion: "It made us to become one of the clubs that arrived late to the market. From one day to the next, players who could have followed in the club had to leave. Important pieces of the project in recent years were suddenly out of the plans and the puzzle was broken, because we couldn’t afford their salaries. A big added problem, without the possibility of facing transfers through paying big amounts, which eliminates the option of choosing players but only loans or free transfers."

Support for the next board and the winter window: "Given the support of the big shareholders, especially ABANCA, we have to open the doors of the club, expect them to propose solutions. The club is working on some of them. We have no choice but to row together, whether is with Vidal or another person. The club is already working in some operations. "Legally our exit cannot occur until the extraordinary meeting of January is held. We will favor the decisions that may favor the future of the club.”

FERNANDO VIDAL
Vidal was one of the first shareholders that addressed the public when the moments of the questions arrived. He was the only one that confirmed his candidacy to the elections in January and was received with applauses. He also confirmed to have the support of ABANCA and Juan Carlos Cebrián, one of the big shareholders at the club. The following is a transcription of the main things he said.

Reasons to be a candidate: “I have nothing to gain and much to lose, but I have the love of my family and friends who believe I can contribute. I feel the support of the street, minority and medium-sized shareholders and the big company. It's time to avoid old fights, differences and row in the same direction."

ABANCA is part of the project: “In our integrative project nobody is left over, together we will be stronger. You love Deportivo as much as we do and we will not let our club die. The project is stable from the economic point of view, because it brings a solution to the problems that such a large debt generates year after year. The ABANCA project is the only one that offers full guarantees for the present and future, with the feeling of belonging that means being from Depor. We want it to be a Coruña project that brings pride in the hands of a solid company. Depor is A Coruña, it’s Galician and it belongs to the Deportivismo, that’s not negotiable."

Some details on the project: “We guarantee the survival of the club and we are committed to a winning project. The minority shareholders cannot finance the club, but can participate. Today more than ever, Deportivo belongs to all of you . We have negative assets for about 80 million, but ABANCA has committed to support Deportivo through an initial contribution to strengthen the squad and try to avoid the demotion. Generating enough support to guarantee the viability of the club. Capitalizing an important debt and reducing the debt to historical lows. We are also working on a capital increase open to all partners. It will be presented before the next meeting. I want to take this opportunity to publicly show my gratitude to a friend who is a great Deportivista who has turned to this project: thanks Juan Carlos [Cebrián].

What will happen now? "We are going to propose movements and the club will execute it. If another candidacy appears it will be agreed with them too. It’s a complex issue [the extension of the salary cap without even being on the board]. The situation is critical and we cannot waste time. There have been quite tense moments. I knew the board was going to continue and we have agreed to work with them since tomorrow to strengthen the squad. “

The future of Depor: "The viability of the club is also guaranteed in Segunda B with the proposed agreement with ABANCA. It will be closed before even the meeting on January 14. If ABANCA capitalizes debt it would be the maximum shareholder. The debt would go from 80 million to be reduced ostensibly." 

ARCHIVE NEWS DEC/19

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