If Espanyol were as predictable on the pitch as it was in finance, the game would probably be more boring, but Pablo Machín would live at the top of the rankings. As expected since it was announced months ago, the club approved on Tuesdayat the General Assembly held at the Auditori de Cornellà, a relevant capital increase of 50 million euros.
It will be Chen Yansheng and the company he leads, the Rastar Group, who owns Espanyol at 99.3% (of the 99,379 represented on the Board), who will be responsible for covering that amount in the coming months, which means what that the club's net debt has been reduced from 93 million from 30 June to 40 to 50. The Council also approved another smaller extension worth 375,000 euros, in which minority shareholders may participate and in which shares in the amount of 60 euros will be issued.
With regard to the results of the fiscal year 2018-19, also approved by the Council, closed Espanyol with a profit of 1.83 million euros, with 98 million in revenue, of which 10.97 in player transfers. And although he was the representative of the small and medium shareholders, Ferran Marín, who had to warn him, one-year debt increased by 11 million to 88.5. For the current season, 28.15 million will be earned by selling soccer players and Espanyol's revenues will increase, as budgeted, to 131 million.
All these data were detailed by the Chief Financial Officer Joan Fitó, who emphasized that the salary cap is raised by 12 million for this winter market, which will put to Espanyol "among the seven LaLiga teams with the best financial health". And in that sense, the current sporting situation with the first team, colista, wanted to emphasize that “the correlation between model cost and sporting outcome is usually 1-1. You mean that if you are the tenth salary limit, it usually ends in tenth, with exceptions, so everything that goes up is always positive. "