2024-03-11 18:00:06
“The Arbitration Court formed at the headquarters of the Cali Chamber of Commerce rejected the validation of the creditors’ agreement within the special business recovery procedure of Deportivo Cali,” said journalist César Augusto Londoño on his X account, on Twitter, on the morning of this Monday, March 11.
Deportivo Cali currently faces tough challenges. | Photo: The country
To clarify the facts, a source close to Deportivo Cali spoke with El País regarding the situation. In addition to explaining what step to follow after the measure, he gave a piece of reassurance for the ‘green and white’ fans.
“Cali will not go into liquidation”
The present of Deportivo Cali, at an administrative and sporting level, is a consequence of a series of poor performances for several years. This Monday, March 11, it was learned that the team was rejected from applying for decree 560 on business reorganization.
Consequently, now the club must submit to law 550, administrative and financial reorganization, but it is an established law. This, of course, leads to further delaying the process being carried out in the institution, in addition to generating more difficulties.
Now, the same source confirmed to El País that this does not mean that the club is going into liquidation at this time. Although there have always been several risks, the truth is that now Deportivo Cali must begin a new process to address the situation.
Will Cali be able to get out of the situation it is currently going through? | Photo: Colprensa
This ‘sugar’ reality adds to the bad sporting present that the club is experiencing. After eleven games played, Cali is tenth in the table with 14 points, two behind eighth (Jaguares). In fact, the ‘green and white’ is also fighting to avoid falling into the red zone of relegation. In addition, they have three consecutive defeats, two of them at home, and have not won since last February 23, when they beat Pasto 1-0 on matchday 8.
Added to everything, it is worth clarifying that Cali ratified Jaime de la Pava as technical director of the team. | Photo: COLPRENSA ©
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