“Cabildo Steering Clear of CD Tenerife Shares Under Presidential Leadership”

The revelation regarding the sale of a 10 per cent stake in CD Tenerife by José Miguel Garrido to a British investor, as reported in yesterday’s edition of DIARIO DE AVISOS, has provoked significant backlash from institutions across the Island. They are watching with considerable unease the actions of the main shareholder of the PAN, who is now facing a criminal complaint for alleged crimes involving forgery of public documents and fraud related to this transaction that took place a year prior.

This transaction could obstruct, tarnish, and prolong the process of acquiring shares by Rayco García, a prominent businessman from Tenerife eager to purchase Garrido’s stake in order to dislodge the man from Madrid from the club. The Santa Úrsula entrepreneur’s acquisition is seen as the only viable method to end Garrido’s tenure in Tenerife, particularly after Rosa Dávila stated yesterday that the Cabildo will not participate in this operation: “We shall not interfere in a purely private transaction between wealthy individuals. The Cabildo is not intended for that purpose, especially not after learning of this alleged concealed sale. While I am president, we will not align ourselves with José Miguel Garrido, who has demonstrated complete disregard for Tenerife, the club, and its people,” she emphasised.

Dávila reminded everyone that this is not a scenario where “there is a lack of buyers or a situation that is irreversible. That is simply not the case.”

Furthermore, she reiterated that the Tenerife Council has “at no point” considered intervening in a private transaction. “It is inappropriate to be involved in a deal solely to politically undermine an opponent. Moreover, we all desire a favourable outcome that allows us to finally bid farewell to José Miguel Garrido.” With these comments, she explicitly pointed fingers at Pedro Martín, the former president of the Cabildo, accusing him of engaging in discussions with the Madrid entrepreneur himself, aiming to fully embroil the Island’s political institution in Garrido’s share buying and selling process. “The most troubling aspect, based on our findings, suggests that Pedro Martín, of the PSOE, may have instigated conversations with José Miguel Garrido, which could represent an extreme act of disloyalty to the island of Tenerife, to the Cabildo, and even to CD Tenerife, which could be jeopardised. Should it be true that Pedro Martín and José Miguel Garrido were holding private discussions without the knowledge of the accused and the Cabildo, I would describe this as a treachery against the Institution and the Island,” she added.

Dávila also recalled her consistent refusal to enter into agreements with the company’s main shareholder, particularly when “Garrido sought to engage in a speculative venture regarding the Heliodoro and behind him was Pedro Martín as president of the Cabildo. Upon taking office, I made it clear that the Heliodoro was not for sale. At this point, we will also refrain from any operation involving public funds.”

However, she expressed her desire for the negotiation process between Rayco García and José Miguel Garrido to “be swift”, as “Tenerife is not an asset to be exploited. It is a symbol of Tenerife and an essential part of the Island’s social fabric. Hence, we need to revive hope that resonates in the sporting arena. This revival must also originate from those who hold the syndicated shares, who should step forward and declare that this individual cannot be the primary shareholder nor pursue his agenda as our representative.”

Calls for an investigation into the transaction

In relation to the transaction supposedly occurring in August 2023 through a written agreement between Garrido and the aforementioned British investor, totalling 3.5 million euros, Dávila again firmly stated her stance in the face of the institutional crisis that CD Tenerife is currently experiencing. She believes it is imperative to clarify these developments and openly criticises the lack of transparency exhibited by the main shareholder: “José Miguel Garrido has shown utter disdain for Tenerife through his lack of transparency and respect towards the club, its supporters, and its structural foundations. He has acted in secrecy from the Board of Directors and the shareholders, disregarding agreements that ensure the stability of the club. This conduct is unacceptable in any institution, especially grave for a team that holds significant value for the people of Tenerife.”

The Cabildo president underscored that the ramifications of this crisis extend far beyond the sporting realm: “Garrido has shattered the trust of the shareholders, the members, and, above all, the fans of Tenerife. By jeopardising the integrity of CD Tenerife, he has not only put a football team at risk but also a symbol of our Island’s pride and identity,” she reiterated yesterday.