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SBD Global/January 10, 2014/Finance

River Plate Angered By Ex-President Who Spent $810,000 Using Company Credit Card

Argentine first division side River Plate execs "are embarrassed," according to Daniel Avellaneda of CLARIN. This is not "just because of figures showing that the club's previous leadership increased its debt" from $383M on Aug. 31 to $425M. It is "also due to a summary of the corporate credit card that former River President Daniel Passarella used during a trip to Europe in November to visit the Pope." Passarella spent $810,000 in the last four months, "including his trip across the Atlantic." River Plate VP Jorge Brito and Treasurer Andrés Ballota warned that "money was spent in an irresponsible manner." However, Brito and Ballota "did not expect to have to explain the amount of money spent by Passarella." A "stunned" River Plate exec said, "Why did Passarella go to Europe if he was not selling a player? He went on a trip paid for by the club" (CLARIN, 1/9).
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