The leadership headed by Marcelo Culotta is considering moving forward with the legal process regarding a liability that would amount to around 67 million dollars
The delicate present of San Lorenzo is not limited to the results on the field. While the team is going through a complicated phase, the institution is also facing a difficult economic and financial scenario that has led the management to explore alternatives to try to organize its finances. Among them, the possibility of calling for a creditors' meeting has gained traction.
The option has been analyzed internally for some time, and in recent days, it has gained momentum from various meetings and consultations held by the Board of Directors. According to reports, the ruling party believes that the complexity of the financial situation and the recurring appearance of liens make it necessary to evaluate the judicial path.
A report recently prepared by the government of Marcelo Culotta estimated a liability close to 67 million dollars, a figure that exposes the magnitude of the obligations the institution faces. In this context, part of the management has moved from analyzing the possibility to studying how to carry out the process.
The leadership headed by Marcelo Culotta is considering calling a creditors' meeting
Nonetheless, the decision has not yet been made. Before proceeding, the leadership must analyze the impact that a potential call could have on various existing agreements, including contracts related to Carrefour for the transfer of the La Plata Avenue land and the guarantees outlined in those agreements. It will also be crucial to reach an understanding with as many creditors as possible.
Another central point will be the position of the Argentine Football Association(AFA). Culotta recently stated that the Viamonte entity would support the management in the decision it makes. "Today we had a very good meeting with AFA. They will support the decision made by this Board of Directors to move the Club forward", declared the president of San Lorenzo during the last Board of Directors meeting.
According to reports, the issue was also addressed in a meeting held at the Ezeiza Complex between club leaders and the unpresentable AFA president, Claudio "Chiqui" Tapia. There, the azulgrana leadership would have raised the possibility of resorting to the creditors' meeting and received a favorable response, although there are still other steps to take before implementing any measures.
In addition to these preliminary steps, the main obstacle appears within the club's own political structure. While the ruling party has a majority on the Board of Directors, the same is not true in the Assembly, whose 90 members are the same ones who took office after the 2023 elections that brought Marcelo Moretti to the presidency, as only the Board of Directors was renewed in the last extraordinary elections.
To approve a potential call for a creditors' contest, the leadership must gather more than half of the votes in the Assembly
By regulation, a potential call needs to secure more than half of the present assembly members, so the leadership will need to seek agreements with other sectors to gather the necessary votes. The lack of a majority makes this stage one of the main uncertainties of the process.
For now, the project is in a preliminary stage and the management continues to evaluate its scope. The state of finances, the stance of creditors, the impact on existing contracts, and especially the possibility of obtaining support in the Assembly will be the factors that ultimately determine whether San Lorenzo proceeds with one of the most significant measures in its recent history.
