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Test Passed
The RCD Espanyol de Barcelona Board of Directors successfully negotiate the General Meeting of Shareholders
The RCD Espanyol de Barcelona President Chen Yansheng and his Board of Directors successfully negotiated the General Meeting of Shareholders that took place on Tuesday at the Firà de Cornellà. All the points of order were approved with 99.98% of the votes, an endorsement of the President and his team’s management of the club.
The General Meeting of Shareholders (JGA) began with the President, Chen Yansheng, making a speech. “We are going to work hard so that at the end of the season our supporters can be proud of our club. With the support of all “pericos” we can overcome the difficulties we face. We want to keep working to attract talent to the club and to keep the team moving forward. Half of our players come from the academy and that is something of which we’re hugely proud. The academy is one of the club’s core values. The “blanquiazul” President insisted that “we have financial muscle; we have sponsors that recognize our international outreach. We have proposed an increase in capital to strengthen the club”.
In his appearance, the General Corporate Manager, Roger Guasch, explained that the club is working in a number of ways to improve the club. “Without the foundations, there is no possibility of real growth”, Guasch emphasized. Amongst other things, Guasch insisted that it was important “to strengthen the brand and communication”, adding that the club was working on a digital transformation. “We have a new website and app in place”, he revealed. Furthermore, the General Corporate Manager said that the “club has been working on plans to improve mobility and access to the stadium”, adding that the club has signed an agreement with the Ferrocarilles de la Generalitat (FGC). Finally, he said that the club was working on improvements to both the RCDE Stadium and the Dani Jarque Training Centre and gave more details about the search for a site for a new training centre.
The General Sporting Manager, Óscar Perarnau, gave an overview of the six areas under his control (professional football, technical office, academy, football school, medical services and women’s football). Perarnau recalled that the first team achieved qualification for the UEFA Europa League and a season with ups and downs. He went on to detail some of the main achievements of each department.
The Financial Director, Joan Fitó, reported that revenue was strong at around 100 million euros. “Investment in players is similar to other years. Moreover, we have budgeted for improvements to sporting facilities and for investment in the academy and in women’s football”, he said. Fitó said that the club had also invested in improving the brand, publicity and digital transformation as well as the professionalization of the club and reinforcing its structure. The Financial Director confirmed that the outcome was a profit of 1.8 million euros, earnings before tax and interest (EBITDA) went from 6-9 million and the increase in capital will allow the club to maintain the budget. “We are becoming a top club, with finances that would be acceptable amongst the top teams in the league”, he emphasized. Moreover, he recorded net debt at 93 million and said that the predicted income from the club’s upcoming activities would be around 131 million, owing to participation in Europe, player sales and television income.