The leadership of San Lorenzo de Almagro has decided to study the possibility of calling a creditors' contest to address the club's severe financial challenges. The decision is not final, but the analysis is underway, according to information obtained by this outlet.
Marcelo Culotta, the club's president, addressed the topic in a meeting of the Board of Directors last week. Culotta explained that the club is evaluating the necessary steps, including reaching an agreement with the largest possible portion of creditors and obtaining approval from the Argentine Football Association. "AFA supports us in any decision we make to move the club forward," the president stated.
Assessing the risks
Among the key points under analysis is the potential impact of the process on the contract with Carrefour regarding the cession of lands on Avenida La Plata. The leadership is also evaluating the guarantees of that agreement, which represents a significant source of income for the institution.
The idea of a creditors' contest has been discussed internally at San Lorenzo for some time. External consultations on the matter had already taken place. The topic was also discussed in a meeting at the Ezeiza training ground between several club leaders and Chiqui Tapia, the president of the AFA.
The internal political landscape
For the measure to be approved, it requires a favorable vote from more than half of the Assembly members present. In the Board of Directors, the ruling party has a majority, but it does not have one in the 90-member Assembly that took office in 2023. This scenario has stirred internal political controversy.
The creditors' contest proposal is associated with the political group Movete Boedo Movete, led by Manuel Agote and Sebastián Pareja, a strong figure of the National Government who finished fourth in the recent elections. Some sectors accuse the ruling party of having an agreement with this group, something the current board categorically denies.
The financial analysis comes amid a tough sporting context. San Lorenzo de Almagro sits 10th in the Liga Profesional Argentina with 11 points from 10 games, following a 0-2 defeat to Boca Juniors on September 20. The team faces a difficult match away to Defensa y Justicia, who are third in the table, on October 3. Fans can follow the team's progress and check the full schedule on our fixtures page, as well as the current squad.
