Thursday, October 28

The club will pay this week the first installment of the promotion premium

Players celebrate their promotion, among them Gonzalo Verdú and Edgar Badia, captains this year.

Players celebrate their promotion, among them Gonzalo Verdú and Edgar Badia, captains this year.

The Elche He had to have paid on February 28 the first installment of three million euros of the six with which he committed to the workforce What award for promotion to First division Last season. Nevertheless, the payment has been delayed a few days and will be effective throughout this week.

This has been communicated by the Elche club to the players, indicating that the money transfer will be made at the same time as the February payroll. Usually, the franjiverde entity usually settle salaries between the 1st and 10th of the month following the due date. Therefore, during this week or, at the latest, the beginning of the next one, the first installment of the promotion premium must be paid.

After consummating the jump to First Division, Elche and its footballers reached an agreement so that this important amount of six million euros would be paid twice, one at the end of February and another when the month of March ended. This formula allowed the franjiverde entity to have sufficient liquidity for those dates, because the collections of television rights are received on a monthly basis and in the first part of the season there are many payments to settle from the previous campaign.

The club has that money accounted for in its budget and the previous general director, Patricia Rodríguez, has already left everything scheduled before leaving so that payments could be made on the stipulated dates. After the last minute adjustments to be able to pay the February payroll and the promotion premium – between the two concepts they are more than six million euros – at the same time, it is planned to settle everything this week.

All at the same time

Although the payment of the first installment will be matched with the payroll and there are players and components of the coaching staff from last season who no longer continue in the French-green entity, the intention of the club is that all transfers are made effective at the same time.

The distribution of the amounts that corresponds to each footballer and to each of the coaches and assistants, who will also receive a part, was an exclusive decision of the squad. And it was the team captains who informed the club of the money to be transferred to each one.

The players who are still in the Elche team are not worried about this small delay and consider it normal, because, so far, the club is complying at the beginning of each month with the payment of salaries.

The departure of Patricia Rodríguez has also been able to cause the transfer execution to be delayed for a few days because, now, in the absence of the Basque executive, the main shareholder, Christian Bragarnik, and the director, Alejandro Martínez, who is practicing provisional, the functions of economic manager of the entity, are those that have to give the go-ahead to all movements and more in this case with an amount as high as three million of this first term of the promotion premium. In principle, everything should be solved in the next few days.

The salary limit drops to 32.3 million due to the lack of income from the box office

LaLiga made official yesterday the amounts of the new salary limits available to First and Second Division clubs after the downward revision that has been made due to the reduction in income due to the impossibility of fans attending the stadiums. Elche has gone from the 34.6 million assigned to it in November to 32,250,000 euros. The decrease coincides with the 2.3 million that the franjiverde entity had entered in its budget for “ticketing”. At first, the clubs hoped that from January the covid-19 pandemic would remit and allow, progressively, that fans could attend the matches. However, this possibility is increasingly remote and that has forced LaLiga to review and lower all salary limits. Elche had already planned this possible reduction and had a remainder of almost three million euros of the 34.6 million initially designated. That may be the reason why Christian Bragarnik did not decide to reinforce the squad further in the winter market. Now, despite the decline, the club from Elche perfectly complies with the economic control imposed by the Employers’ Association of Clubs and, in addition, is in a position to balance the budget it had set. Outside the transfer period, Helibelton Palacios arrived and Almirón was replaced by Escrib on the bench. Those expenses also fit perfectly into the new salary adjustment.

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