Rayo out of administration by June

Rayo Vallecano President Raul Martin Presa has asserted today that the Madrid side will likely be out of administration by the end of the season.

The Vallecas outfit are enjoying a strong season on the pitch and currently sit seventh in the League after 22 rounds of action.

That positive outlook on the pitch is shared, as Presa revealed today, with a similarly optimistic glance into the future off the pitch.

“The club was dead, in a coma, but as of today seems to be stabilised and recovering from the deadly disease it had,” the Rayo President told AS today.

“I am very happy in that aspect. It is not for me to make estimates on when we will no longer be in administration, but estimates more or less suggest we will leave it at around the end of the season.”

Rayo began bankruptcy proceedings in June 2011, with debts estimated to have worsened at that time to as much as €40m. The club have one of the smallest annual budgets in La Liga.

Presa was also asked of sporting director Felipe Minambres and Coach Paco Jemez, who both have contracts up at the end of the season.

“Planning for next season starts at the right time. You have to go step by step and in administration steps must be taken to not go wrong.

“When the time comes each case will be undertaken. On a personal level I’m 100 per cent happy with members of both the technical and coaching staff, whilst the attitude and ambience is pretty good both sporting and institutionally and influences the progress of the team.

“There is no discontent with anyone.”

Tags Debt Minambres Paco Jemez Presa