There’s no turning back now as the gears are set in motion to oust José Miguel Garrido from CD Tenerife. The key shareholders of the club, including the embattled Miguel Concepción, Amid Achi, and Conrado González, were in constant communication yesterday to devise the necessary steps to remove the confessed fraudulent businessman along with his substantial holdings.
One of the proposals being considered is to make a financial offer, possibly to be presented to Garrido himself in the upcoming days, to purchase his stake. There’s also a possibility for other investors to join this initiative, which aims to promptly negotiate a settlement with Garrido for his exit from the club.
Additionally, sources close to the major shareholding groups are greatly displeased with the lack of proper disclosure by the tax-evading businessman regarding his legal strategy and issues with the Spanish Tax Authority.
Following his admission to the tax-related charges, the club’s top executive finds himself in a highly challenging position, owing significant debts that might necessitate the sale of shares. This is precisely what the other major shareholders will rely on to sever ties with Garrido.
While the plan to acquire Garrido’s holdings is being devised, the club management maintains a facade of normalcy. In fact, they gathered yesterday to introduce the new coach, Óscar Cano, with Conrado González playing the role of the host.
However, Rayco García and Juan Pelayo declined the invitation, showing a strong desire to distance themselves from the club’s primary shareholder at the earliest opportunity.
