Levante lost out on promotion to La Liga by a single minute two weekends previously, and it has proven to be a sour note on which to end the Quico Catalan era.
The President gave a press conference confirming that he had told the board that he would be stepping down from his role. Catalan took over in 2010, and saw Levante qualify for the Europa League. Just a couple of years ago they were in an historic Copa del Rey semi-final, and comfortably midtable. However two heartbreaking years saw them relegated and now they must face a second attempt at promotion.
Los Granotas are also dealing with the financial consequences of the pandemic and relegation. Unless they make a sale of €4m or more between now and Saturday, they will close their accounts with losses for the third year in a row.
Comparecencia de Quico Catalán, presidente del Levante UD.
— Levante UD (@LevanteUD) June 29, 2023
Catalan has maintained that the club remains solvent though, and will action a plan to issue new shares to the tune of €15m in order to ensure stability, as they repay a €60m bank loan taken out in 2020.
Juan Danvila, who is part of the board currently, is expected to take over Catalan’s duties. Catalan will step down officially in November, as per Marca.
Levante have been up and down under Catalan, but it is not long ago that he and the club were being held up as an example of good organisation for a club of their size. Now it may well be back to basics for Levante.
