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Financial troubles hit CF Reus

Financial troubles hit CF Reus

At the General Meeting of Shareholders of CF Reus Deportiu held last night in the Municipal Stadium, they announced that they had failed to resolve the economic problems and they plan to enter into a pre-competition of creditors, as there have been no negotiations regarding outside investment or the sale of the club at present.

After more than three hours of meeting, the largest shareholder of the Club, Joan Oliver, told the score of shareholders present the delicate economic situation of the club, noting that, despite the several attempts to find new capital they are yet to solve the problem that seriously threatens the future of the club.

Thus, they are requesting to enter into a pre-agreement with creditors, CF Reus will try to buy time to find investment though this will almost certainly mean that the clubs playing staff will have to defer payment of their wages for at least a couple of months.

The danger is that if the players go up to three months without being paid then they would be able to walk away from the club and sign a contract with another team with Reus not being able to claim a fee for them.

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This Tuesday at noon, Joan Oliver and CF Reus president Xavier Llastarri are scheduled to announce the decisions made last night at the General Shareholders’ Meeting and draw a picture of the future for the club with 108 years of history.

On the other hand, the players will return to training on Tuesday to prepare for Saturday’s game against Lugo, although not before discussions with the hierarchy of the club regarding their futures at the Estadio Camp Nou Municipal.