The convocation of the general meeting of shareholders of the Valencia For next December 16, he “forced” the club to strip its accounts so that their owners can examine them and show the worrying economic reality of the entity.
The entity will present a balance for the past year with losses of 31.2 million euros, compared to the eight million of the previous year, which was the most affected by the pandemic.
As a result of these problems, the club acknowledges that last July asked for a loan of 51 million ‘Rights and Media Funding Limited’ with the guarantee of a percentage of television rights from this season to 2025-26.
In addition, the report ensures that the club has proposed its maximum shareholder Peter lim, and he has accepted, the capitalization of the loan of 38 million that he gave to the club (that is to say, that they become shares and do not have to be repaid). However, in the agenda of the meeting there is talk of a capitalization of 12.98 million in compensation of these credits and of an increase of the share capital of 24.5 million charged to monetary contributions, that is to say a direct injection by part by Lim.
The entity also has that this season its losses will be 36 million and that it has already counted on that it will have 37 million net income before June 30 from the sale of players.
All these numbers are pending that the club receives the injection of money that is due under the agreement between the League and the CVC fund, an amount that the club does not detail in its report.
The meeting will be the first in which it is not possible to assist with nine actions as happened until now, if not that there must be a minimum of 3,598 actions, a maneuver that Lim approved at the last meeting and that is denounced by the Libertad VCF association. A few days before the meeting, a judge must decide whether to suspend that measure as a precautionary measure.