Varzim management resigns en masse and suspends financial support – Varzim

According to the resigned administration, this action came due to the cancellation of the General Assembly by a decision of the head of the authority

The management of Varzim, from the third division of football, on Friday announced its “collective resignation” and stated that the outgoing directors had stopped the financial support they had been providing, in their personal capacity, to the club.

According to the resigned administration, this measure was due to the cancellation of the General Assembly [AG]By decision of the Chairman of the Authority, the draft establishment of the SAD to manage professional football will be presented and voted on.

“Direction [demissionária] Varzim does not accept that, without any valid justification and in an arrogant manner, which, in his opinion, constitutes a clear case of abuse of power, the members were deprived of their sovereign right to decide the future of the club. Varzim.

In addition to the “collective resignation”, which was sent today to the Chairman of the AG Board of Directors, the outgoing directors stated that, since 21 December 2023, they have stopped the financial support they have been providing to the club since they were elected “with recourse to your personal assets”.

The resigned management also considered that the impossibility of members, in this canceled General Assembly, expressing their opinion regarding the future of Varzim “throws the club in a very complicated situation,” wishing the future managers “good luck” and offering to provide support during the transitional period.

The General Assembly where the creation of the SAD would be discussed and voted on, with input from external investors, was canceled on December 8, 2023, after the body's president, Moura Gonçalves, indicated that not all information had been collected about the process.

“Management has not made available all the documents relating to its proposal to convert Varzim SDUQ into SAD, at the same time that there are well-founded doubts about the suitability of the documents to highlight certain circumstances in the business, in particular with regard to beneficial owners and guarantees,” he highlighted at the time, in Bayan, leader of Varzim AG.

The director considered that “the lack of documentation supporting the proposal (…) does not allow Varzim members to be able to make a decision in a sufficiently informed, informed and considered manner, regarding a matter of greater importance for the life of the club.” “.

Previously, the Varzenista Board, Varzim's advisory body, made up of former managers, mayors and other members involved in the club's life, had also given a negative opinion on the contours of the deal.

The resigned administration said, in a statement today, that it does not agree with “the arguments of the unavailability of documents and doubts about the suitability of documents to highlight some working conditions,” stressing that it added an “independent opinion” from a company of lawyers.

The outgoing directors also criticized the “climate of mistrust that has developed around the process, and the attempt to condition opinion”, and spoke of “irresponsibility on the part of those who did not read the documents”, for classifying the decision to cancel the AG as illegal.

The investor interested in acquiring the majority of the capital of the future Varzim SAD team is the Brazilian businessman Ulisses Jorge, the players' agent, who manages the career of central defender Eder Militao, among others, who plays for Real Madrid.

Ulysses George, who has since exited the business, committed to pay €4.2 million so that, by 2026, he would own 53% of SAD's future share capital.

By Lusa