Del Nido to explain finances

Sevilla President Jose Maria del Nido will face the club’s shareholders at a general meeting today, expected to face an inquisition on the club’s finances.

For the first time in Del Nido’s 10-year tenure, the club will register a loss and whilst this is being held by the club as standing at around the €15m mark, reports indicate that it is closer to €22.5m and only an application to defer payment of taxes has kept it lower.

Del Nido is expected in this evening’s annual meeting with the shareholders to thoroughly explain the club’s situation and its projected future.

The President has already confirmed in an interview Marca that, for the first time in his decade at the club, they have had to agree to also defer payment of wages to the players until the coming year.

Sevilla’s total debt is understood to stand at €49m, although they are also believed to harbour about €25m in surplus equity accumulated from previous, better seasons.

Del Nido has reflected in recent weeks that the club’s financial shortfall can in part be explained by their lack of progress in Europe in the last few seasons.

El Confidencial read into the situation that the club may have to sell either Jesus Navas or Alvaro Negredo or both in one of the coming transfer windows.

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