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SHAREHOLDERS MEETING 2017

21 Nov 2017
The 99% of the shareholders approved the financial reports and the budget for the season. The president revealed some financial information, including the amount of Lucas’ transfer to Arsenal.

The 2017 meeting of Deportivo had 1,495 shareholders represented (only 137 were in the act), the capital represented was the 31.86% of the total. The even started with president Tino Fernández giving his memories of the past year.

Tino Fernández was emphasizing the financial situation and the permanence of Depor at Primera División. There was some interesting information that was revealed, starting with the number of socios at this height of the season: 27,100. Also the current number of shareholders: 25,333.

It was also revealed that the income for sponsorship has been increased in 26%, the president explained the situation, “We are trying to find new incomes in order to have more revenues, for this reason we have signed agreements like the one with Macron.”

Depor’s president also revealed that the incomes for the season are expected to reach the €63.2 million. Also that Lucas Pérez was sold to Arsenal FC for €21 million, something that he described as the “most expensive Galician player in the history.” It was also revealed that Pablo Insua was transferred to the Bundesliga for €3.2 million

Later the shareholders had the right to express their opinions and ask questions to the board of directors. As it was expected there were several complaints on the team’s performance, a shareholder asked for the exit of sporting director Richard Barral, and another one even questioned why Gustavo Munúa was signed as the coach of Fabril.

 Several shareholders complained about the problems faced by the fans at the stadiums, always remembering the case with Jimmy. And the president replied saying that he is also against the social treatment made by La Liga president Javier Tebas. He even assured that some news are released to the media in the days in which Depor play at home as someone is trying to provoke the public. The main thing said by Tino Fernández in his replies was that Munúa will stay at Fabril for next season if the team achieves the promotion to Segunda División.

Then the shareholders voted for the approval of the financial reports and the budget for the season 2017/18. As it was expected the majority, 99% of the shares represented, approved everything and the meeting ended after four hours.

ARCHIVE NEWS NOV/17

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