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The concession contract that Blanco y Negro has to manage the professional football of Colo Colo celebrated 15 years since its establishment. Another 15 remain for the Colo Colo Social and Sports Club (CSD) to regain guardianship.
However, the latest events that have occurred at the Monumental stadium could alter the panorama. Although it is complicated, the experts consulted by RedGol explained the possibilities that the concession expires, due to bankruptcy or default.
If Blanco y Negro files for bankruptcy, the club’s rights will revert to CSD. But it is not so simple: before “there has to be a creditor who wants to collect and does not pay him, like a water company, electricity, or a player who owes wages,” they explain.
In this case, the affected party can claim this payment before the court and if the concessionaire does not catch up, he falls into risk of bankruptcy, just as on January 23, 2002, when the process that ended in the Black and White creation.
In any case, the specialists agree that this option is not too close, given the financial support that the club has at the moment and the long-term contracts that are signed (CDF, jersey and sponsors).
Where the tooth can be driven is in the breach of some clauses of the concession contract: “Blanco y Negro has the obligation to protect the assets of the club and the turn of the company, in this case professional football.”
The caveat comes after BN Executive Chairman Harold Mayne-Nicholls warned of the possibility of playing with a youth team, which would directly undermine the club’s performance in professionalism.
Morón, Mosa and Mayne-Nicholls at the controversial conference
Finally, there is the obligation to protect the image and adherence of the club. “At the conference yesterday the club’s badges appeared and I don’t think any fans have joined in for these actions,” the specialists question.
In any case, these claims for non-compliance must emerge from the CSD, which is now part of the BN board. In fact, one of its representatives (Daniel Morón) was at the Monumental conference; which makes this measure highly improbable.
