Zaragoza Board Approves Accounts While Jorge Mas Goes AWOL
Real Zaragoza's shareholders meeting passes financial accounts without president Jorge Mas in attendance, as club confirms fifth capital increase despite ongoing relegation battle.
Mas Missing as Zaragoza Shareholders Rubber-stamp Finances
Real Zaragoza’s annual shareholders meeting went ahead today with one very notable absentee - club president Jorge Mas, who failed to show up even via video link while the club’s accounts were being approved.
The meeting, which should have been a chance for leadership to front up during a difficult season, instead highlighted the growing disconnect between the American ownership and supporters, with Zaragoza currently battling to avoid relegation to Spain’s third tier.
Key Developments
- President Jorge Mas was completely absent - the first time he’s missed a shareholders’ meeting since taking over
- Board members Pilar Gil and Lauren Cook at least made the effort to dial in remotely
- The club confirmed its net debt has been reduced to €39 million
- A fifth capital increase was approved (though details remain thin on the ground)
- José Guzmán Pérez joins the board, replacing Emilio Cruz
Guzmán Pérez, a Zaragoza-born lawyer and long-time season ticket holder (number 10,483 to be precise), represents the only meaningful change to the club’s leadership structure despite widespread criticism of the current board’s sporting decisions.
Stadium Developments
Board member Juan Forcén confirmed the club will pay the €10 million owed to La Nueva Romareda development company before December 31st. The new stadium project is still expected to be completed by 2027, though many fans might be more concerned about which division they’ll be watching football in by then.
Sporting Crisis Continues
While the bean counters might be happy with the financial picture, the sporting situation remains dire. Zaragoza have only recently climbed off the bottom of Spain’s Segunda División but remain firmly in the relegation zone, four points from safety.
To make matters worse, their upcoming fixtures are against the division’s top two teams - talk about being up the Swanee River!
All eyes now turn to Sporting Director Txema Indias, who faces enormous pressure to deliver meaningful reinforcements in the January window to give manager Rubén Sellés a fighting chance of survival.
The shareholders meeting ultimately confirmed what many supporters feared - despite the team’s struggles, it’s business as usual for the Zaragoza hierarchy, with only cosmetic changes to the board that has overseen their decline.