September 21, 2020

Valencia offers one-year payments to footballers due to lack of liquidity – La Provincia


The footballers of Valencia Football Club they already know first-hand the financial problems that the club has. In a meeting that took place this Monday morning in the sports city, the club’s financial director let them know that the tokens that footballers have to collect in the summer cannot be paid due to liquidity problems, that is, because the club does not have cash on hand at the moment, and offers footballers some promissory notes that expire in September 2021.

At the moment the squad has rejected this club proposal and negotiations are expected to continue on Tuesday. The problem lies in the guarantee of the promissory notes.

Valencia has made an operation with a bank so that the players can collect, discounting the promissory notes, if they do so before they expire, in September 2021, the club will be responsible for the interest generated by this collection, if the player chooses by waiting for the notes to mature, they keep the interest they have generated.

But the problem is in the endorsement of the promissory notes. At the moment, Valencia does not offer guaranteed promissory notes, neither by Peter Lim, so in case the club did not face the payment of the amount requested from the bank in September, the bank would discount the money from the players. If the promissory notes are guaranteed, in case Valencia did not pay the bank in September 2021, the bank would deduct that money from the guarantor of the promissory notes.

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