Club news

THE SITUATION WITH THE ELECTIONS

04 Dec 2013
One and a half month before the elections take place and the environment is pretty hot in A Coruña, there have been insults and one candidate already gave up. Meanwhile, Lendoiro is not even campaigning, at least not in public.

One week ago Deportivo La Coruña officially announced an extraordinary meeting that’s going to take place on January 21 or 22. The objective is to name the new advisors in the board of directors for the next five years and eventually to name a new president of confirm the continuity of Augusto César Lendoiro.

In the previous two months four different men have confirmed their aspirations to become into the new president of the club. Paco Zas, a business man from A Coruña, was the first one that presented his candidacy, followed by German Conchado, the former lawyer of the club. The third man on the list was Manuel López Cascallar, a young and unknown shareholder of the club, and the last man to step in was Constantino ‘Tino’ Fernández. consider the main rival as his company, Altia, is the fourth biggest shareholder of the club.

These four men presented their plans and “gently” attended the media in previous weeks, but the situation turned to be more complicated starting on last week. First to all candidate Tino Fernández presented a motion to advance the elections to December’s shareholders meeting, because he’s convinced that the new president should be the one negotiating the deal with the creditors scheduled for January 10 (ten days before the elections).

For it Fernández presented a document supported by more than the 5% of the club’s shares (a requisite), but the club’s lawyers rejected it without giving a convincing explanation. In the following days Fernández joined forces with Paco Zas and presented again the documentation, this time supported by 8% of the shareholders, once again it was rejected.

It started a verbal confrontation in the media between Zas & Fernández and Lendoiro. It also unveiled a war of power among the main shareholders, because it was known that Altia, the company of Fernández and the fourth biggest shareholder of the club, is supported by the fifth biggest shareholders, a brand called Bricoking (garden products), while others like Hijos de Rivera (Estrella Galicia), the biggest shareholder of the club, is still supporting the president.

The icing came with Conchado, the outspoken former lawyer of the club. He offered a press conference on last Monday and attacked both Zas and Tino Fernández. Conchado said that they wanted to advance the elections in a “uncooperative and opportunistic manner, as only serving their interests and not those of the other candidates."

The worst part was when the lawyer called Tino Fernández a "shitty Celtista" This since Altia is a sponsor of RC Celta and even owes a loge seat at Balaídos (they also sponsor Depor). One day later he talked to Radio Onda Cero and suggested that Fernández and Zas joined forces after the first offered “sex services” to the second.

All these declarations appeared in all the papers in Spain, offering a poor impression on the current presidential campaign. Zas didn’t say much about the insults, but Tino Fernández hammered Conchado on his Twitter account.  In the meantime López Cascallar has focused in criticizing the financial reports presented by the club, he said that he’s “disappointed” for the big difference in the debt presented in the balance sheets of the last two years. Cascallar also urged the club to negotiate with the Tax Agency, same thing asked by Tino Fernández.

And the most recent chapter in this soap opera was witnessed on Monday, because Paco Zas was withdrawing his candidacy for the presidency of Deportivo. He released a press statement in which he explained his reasons. Zas said that he’s stepping out in the attempt to search for unity after the last convulsive week. Immediately there were rumours linking him with a possible union with Tino Fernández, though some reporters just believe that Zas realized that he has no chance to win before the support of Lendoiro and Tino Fernández.

Lendoiro seems to be oblivious to the conflict; actually he hasn’t even presented his candidacy in public. He seems more interested in finding the support among the main shareholders, which was always his strategy to keep the control over the club for the past 25 years, rather than informing the public.

At this point it’s pretty clear that this is a race between two powerful men, Lendoiro and Tino Fernández, both with a big support among the main shareholders of the club. They are even expanding their strategy; in the case of Tino Fernández he already sent buses for the home matches in order to present his plan to the public, something seeing on last Saturday before the game against CD Lugo.

They are even preparing an strategy for the transfer window market; Lendoiro had a meeting on last week with a group of investors and also with Jorge Mendes, and it was informed to the press that they will try to sign three players in January.

Tino counteracted and on Monday he told to reporters that there were 20 possible targets in his list. He mentioned the nationalities: Brazilian, European, Colombians, and some of them were internationals. Two days before, during the home game against CD Lugo, agent Lito Míguez was saw at the stands of the Riazor watching the game with the members of Tino Fernández’s staff. Miguez was the responsible for bringing players like Bebeto, Mauro Silva, Rivaldo & Flávio Conceição to Deportivo.

THE NATURE OF THE ELECTIONS
The exact procedure of the elections hasn’t been decided yet; the current board of directors must prepare it and later should be approved during the shareholders meeting at the end of this month. It was said that Lendoiro is going to have a reunion with the other candidates in order to reach an agreement, but so far the reunion hasn’t taken place.

There are two things that need to be clarified to understand the process. The first is that the elections are to vote for the members of the board of directors, not the president. The president is elected later by the advisors at the board of directors. So, the shareholders will vote for an advisor and later those advisors elect the president. It’s a very similar figure to a parliament. The current board of directors is formed by five persons, but it has been discussed the possibility to extend the number to seven. It also means that all the candidates could end represented in the board of directors.

A second thing to have in mind is that every share represents a vote in the election process, so a shareholder can have many votes depending in the number of shares. It’s also possible that a shareholder that cannot attend to the meeting delegate his shares to other shareholder that will vote for him. This process must be certified by a lawyer and in this case it is public, which means that it is known who is delegating the vote.

ARCHIVE NEWS DEC/13

ZAPPING


Back to Club news