Summary of the president´s press conference

The president, Josu Urrutia, has offered this morning a press conference in which he has treated three fundamental questions of the red-and-white actuality. As it is habitual, he has shown his disposal to the journalists for answering any question to the media.

In the first place, the president has communicated that “the player Alex Remiro has renounced to raise its conditions of renewal” and has made us know “through his representative that, nowadays, he does not have in mind to renew with Athletic”. Asked about this matter, Josu Urrutia added, “we have already had some situation of this kind before, and we will go ahead, trying to minimize them for the future.

The second matter at the press conference was the announcement of the date of the Ordinary General Assembly that will be held in the Palacio Euskalduna on Monday 22nd October.

Finally, the President has claimed that the Club´s financial situation continues being excellent, as it is reflected in the external audit report that for the eighth consecutive year has not shown any qualification.

Likewise, Josu Urrutia has reported on a relevant aspect of the 2017/18 accounts and 2018/19 budgets, documents which are already available for reading on the board of the Member Service Office in Ibaigane. Thus, “the Board of Directors has decided that 100% of the profit of the ended financial year 2017/18, slightly more than 76 million euros, will be entirely used to provide a provision in order to strengthen the future of the Club”. To clarify this measure in more detail, Josu Urrutia has given the floor to Alberto Uribe-Echevarria.

The accountant of the Board of Directors has explained that regarding the accountant rules it is required to record the extraordinary income for player’s departure in the year in which they occur. In contrast, player´s transfer reinvestment needs to be accounted as expenses for the future year.

The extraordinary provision is provided precisely in order to mitigate these accountant effects on future budgets and obeys to “an exercise of responsibility”, since it will allow to manage the Club with freedom and thinking exclusively in the interests of Athletic.