Chapter 77: I’ve Said What I Needed to Say. Who Agrees? Who Disagrees?
The chaos within Mallorca's management is evident.
Chairman Alemany lacks real power, and many people have decision-making authority. The transfer department cannot make decisions on its own and must submit proposals upward. The second largest shareholder, Grand, can make decisions when both the chairman and the primary shareholder are absent... This type of shareholder-based club is the worst. It's even worse than those publicly listed clubs, at least the listed ones, despite the risk of direct acquisition, can raise enough funds through the stock market...
Unfortunately, many La Liga clubs are structured as shareholder-based companies. Since the financial crisis hit Spanish clubs, only Real Madrid, Barcelona, Osasuna, and Athletic Bilbao remained as member-based clubs, with others restructuring into shareholder-based companies, allowing wealthy individuals to invest in teams and gain club shares. For instance, Valencia's shares are divided among three shareholders, and Atletico Madrid's shares are owned by several, although most are held by Gil.
Mallorca's situation is similar, but over the years, some shareholders decided to step down, leading to the concentration of shares in the hands of Asensio and Grand. This overlap of personnel and power has been a major factor in Mallorca's stagnation and failure to develop.
When José learned that Stankovic was going to transfer, two days had already passed.
"This is unbelievable," José shook his head in frustration. First it was Tristan, now Stankovic... these two were his absolute core allies. Now...
"That bastard Grand, I'm going to make him regret this," José swore to his father.
"There will be plenty of opportunities," Alemany wasn't happy either. As chairman, he only found out about Stankovic's contract signing after the fact—what if Grand gained enough shares and just kicked him out of the chairman position?
"Ameir and the others have already reached an agreement, securing their 5% share for about three million, slightly above market price. In addition to Antonio's 60%, this means we've acquired 65% of Mallorca's shares for $33 million. Even if Grand and Pep team up, they'll only have 35%. We have an absolute advantage in controlling the club," Alemany chuckled. "Son, you're a rich man now, close to two hundred million in cash. That's a scary number."