[ad_1]
This Saturday, at the General Assembly (AG) held at the José Alvalade stadium, the Sporting partners failed the report and the accounts for the 2019/20 financial year and the budget for 2020/21, with 67.22% and 69, 19% voted against, respectively.
In a statement issued after the great meeting, the Lions Board of Directors emphasized that, “in due course, it will return the documents to the General Assembly of Members” and will consider “making changes to the budget, adjusting it to the reality that has been known since the beginning of the exercise “.
The approval of these documents is important in the management of the daily budget and in the relationship with third parties, that is, with financial institutions and with the State. As up to now, we will do our best to ensure that there are no further detrimental consequences for the club in this period alone. So hard. We are confident and determined that, despite all the difficulties, we will succeed. We will consider introducing changes in the Budget, adjusting it to the reality already known since the beginning of the year ”, the Board of Directors stressed.
Without the possibility of discussing the accounts, to avoid crowds inside the VIP room of the José Alvalade stadium, in Lisbon, where the GA took place, due to the covid-19 pandemic, 3,115 athletes participated in the vote during the period. when the polls were open, between 2:00 pm and 8:00 pm.
Of these, 67.22% spoke out against the 2019/20 report and accounts, compared to 32.78% who were in favor, while the budget for the next sports season was disapproved with 69.19% of the votes against, while 30, 81% of the associates approved the document.
The management report of the Sporting accounts for the 2019/20 season records a positive net result of around 74 thousand euros, after having obtained profits of around 141 thousand euros in the previous season and of the order of the two million euros in 2017/18.
The liabilities of the Leo club had a small decrease, currently standing at 202.47 million euros (ME), compared to the 202,664 ME registered in 2019.
The Sporting management, led by Frederico Varandas, highlighted the impact of the covid-19 pandemic on the club’s accounts, having caused a reduction in income, due to the stoppage and closure of competitions, of around 1,432 ME, which was mitigated with the “reduction of expenses with personnel (layoffs’ of employees and athletes) and suppliers” in 1,272 ME.
For the 2020/21 season, Sporting partners also rejected the budget reduction by 58.73%, to 36,762 ME, which contrasts with the 89,072 ME available for the last year.
In the budgetary assumptions, Leo officials said that “it would be reckless and irresponsible to carry out a budget that reflects previous expectations and that is not based on adjusting measures to ensure financial balance”, anticipating “significant revenue shortfalls” in the face of the impact of the pandemic, which implies “updating and reviewing the goals established in previous budgets.”
[ad_2]
