According to the Ass, the Espanyol Club will increase its capital by 38 million euros, and has invested more than 240 million euros since Rastar became the owner of the club. If held continues, this will be the tenth year of the group as the club owner.
In addition to the initial share purchase, an integer amount used for capital increase will be finalized on Friday, which will be approved to convert the club's debt to the Chinese group into capital, worth 38 million euros (specifically 379999998 euros). This will join €75 million in 2016 (although originally planned to be €150 million), €50 million in 2019 and €37 million in 2021.
In total, as long as the capital increase is completed, the group led by Chen Chuanghuang (son of Chen Yansheng) will inject a total of 200 million euros into the club. Chen Chuanghuang recently watched a derby in Barcelona (also attended against Real Madrid), and his father has not visited Barcelona since 2022, and a video played at the last shareholders' meeting seemed to be produced by artificial intelligence.
All this will be held at the special shareholders' meeting that begins at 12 noon on Friday, but in fact the meeting will be held virtually and only open to board members. This is the result of Rastar's push for the amendment of the charter in 2022 to further closure itself and use the last aftermath of the epidemic at that time as a reason. Therefore, neither shareholders nor the media are able to raise questions or requests in person, and no person in charge will be interviewed by the media after the meeting.
However, small and middle shareholders (through APMAE organization) will raise questions such as the reasons for Joan Garcia's departure, how many of the 26.34 million euros received from the goalkeeper's sale to Barcelona will be reinvested in player transfers, and the club's current buying and selling situation. While senior officials have denied the sale of the club, negotiations with ALK Capital, the owner of Burnley Football Club led by Allen Pace, or Eleven Five Capital.
With the capitalization of €38 million (which will reduce the club's debt to about €54 million, most of which are long-term debts, held by the CVC fund) and the income from the sale of the goalkeeper, the Espanyol Club is now in a very healthy financial position, suitable for the turnover. While this issue may not be resolved this Friday, especially given the closed nature of the conference, it may determine the direction of the club's future.
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