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Capital increase set at 32M euros
The Extraordinary General Shareholders' Meeting has all points approved
The RCD Espanyol Extraordinary General Shareholders' Meeting, held on June 27th, saw the approval of the points presented by a 99.98 percent majority.
Sending a virtual message, the club's president, Cheng Yanseng, highlighted "the effort and unity" present in the entire club as they remained in LaLiga, and the commitment to embarking on "a new sporting project that will further consolidate us in the top flight."
He also stated his wish to extend "special thanks to our fans for the tremendous support they gave the team throughout the season."
Among the agreements reached by this overwhelming majority were a €32 million capital increase and an amendment to the second article of the club's Bylaws to include the right for RCDE Special to participate in sporting competitions.
Pending the season's audit, Espanyol are aiming to end the campaign with a €2 million surplus, which will allow a balance in the Financial Fair Play requirements, in accordance with the 1:1 rule. Similarly, the financial forecast indicates a debt of only €7 million as of June 30th, "the lowest figure in the last decade," as noted by Joan Fitó, the club's financial director.
In the questions and requests section, the club's top representatives indicated that this Extraordinary Meeting was held 100% online "to expedite the capital increase," but "we will continue to maintain a hybrid format, online and in-person, for the remaining meetings."
Mao Ye also stated that the club "continue working to ensure maximum protection for our young players. Our commitment in this regard is clear" and maintained the idea that "the club must be sustainable and self-sufficient. It is the only viable management model."
He noted that the sale of Joan García had been budgeted, "and that allows us to finish the season with a surplus, but the salary cap is not determined by any specific transaction."