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SBD Global/October 14, 2013/Finance

La Liga Side Espanyol Seeking Investments From Mexico To Cut Club's $192M Debt

La Liga side Espanyol President Joan Collet on Sunday “headed to Mexico,” according to Rogelio Román of MUNDO DEPORTIVO. Collet, “as he has already tried multiple times in less than one year as president, is looking to Mexico to seal some type of agreement with investors that would mean fresh money for Espanyol.” Collet was “recently criticized” by Espanyol shareholders group Genética Perica spokesperson Román Escuer, who “said Collet’s eager traveling has not produced anything.” Collet responded by saying that “what we cannot do is cross our arms and hope that investors come looking for us.” Collet also confirmed that “his trips to Indonesia, Russia and Libya have been productive.” The commercial “connection to Mexico brought Espanyol to pursue signing a long-term agreement with the Mexican state of Quintana Roo.” Espanyol "is hoping to take advantage of a connection highlighted by coach Javier Aguirre and defender Héctor Moreno, who are both Mexican." Cancun, located in Quintana Roo, is “Espanyol’s principal partner.” This summer, Espanyol “nearly finalized a small offseason tour in Mexico, but it was not to be.” At the time, Collet said, “If there is no economic return, we will not go.” Espanyol’s “economic need remains latent.” The club’s net debt is €142M ($192M) (MUNDO DEPORTIVO, 10/13).
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