Club news


29 Dec 2006
Surprise and uncertainty. That's the general reaction after president Lendoiro announced that the club is willing to abolish the statutes in the club that are blocking the possession of more than 1% of the club's shares. The same situation is opening the door out to Lendoiro.

"We have to do it. It's the way that the clubs are using in order to recollect money. It's necessary to eliminate the 1% limit, because this is a business like any other one." These were the clear words of Augusto C?sar Lendoiro when he talked about the necessity of changing the rules inside of Deportivo. The current statutes of the club are preventing to see any person controlling more than 1% of the club's shares.

Now Lendoiro thinks that these statutes should be modified in order to save the club from his delicate financial situation. A heavy debt of €146.2 million is obstructing the normal function of the team, and the club needs fresh money. Two years ago, Depor's president lead a movement that wanted to increase the capital to €60 million, but the project failed and has only recollected €4.5 million.

With no support from the city of La Coru?a, and without the endorsement from the banks, the abolition of the rule of the 1% seems to be the only possible solution. The appearance of a group or even of a single person doesn't mean that Lendoiro would leave Deportivo. He could be part of the new administration, but the papers in Spain are convinced that he is tired and wishing to leave. Besides, Lendoiro didn't like the way in which some shareholders treated him during the last board meeting.

The existence of a person controlling an entire club isn't a novelty in Spain. In fact, it could be considered as a normal thing. There are examples of how successful can be a situation like this one. The arrival Fernando Roig to Villarreal converted a Segunda squad from a small village into a semi-finalist in the Champions League. But there are also warnings about the disaster that can occur when the incorrect person arrives to a club. Like the one of Dimitri Piterman with Alav?s, a squad that ended in Segunda after being a finalist in the UEFA cup.

It's expected that the modification of the statues in the club would occur before the arrival of the next summer, a thing that Lendoiro explained: "It will be better if we are able to solve the legal aspects soon, I hope that it will be ready before the next summer." In this way, Deportivo could have a new boss for the beginning of the season 2007/2008.

This situation is only creating uncertainty in the city, but for the moment the local government has accepted the news with resignation. As the secretary of sports in the Xunta de Galicia, Santiago Dom?nguez, said to a reporter: "Deportivo has been a great club with a beautiful policy. The distribution of the shares was perfect, but the situation reaches a point in which the general management has to take decisions, and they are the only ones that can take them."

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