The sporting success of Melgar from Arequipa has not yet been reflected in the finances. This forced its creditors' committee last November to extend the restructuring process until 2030. A decade ago, this procedure was initiated before the National Institute for Competition Defense and Intellectual Property Protection (Indecopi), due to the association's inability to continue fulfilling its obligations. According to the latest agreement, the three million soles to Inversiones Deportivas FBC Melgar (insolvency debts) are to be paid on December 30, 2030; There is also $700,000 outstanding Rizqallah kernels come from current expenses. On the other hand, infrastructure investments are being made.
Some former members who still have the desire to restructure the association claim that the bankruptcy debts, including interest, will increase by more than five million by 2030, exceeding the amount when the red-black institute started the restructuring. At this time the liabilities amounted to 4,785,000 soles. They doubt the cancellation and ultimately assume that the main creditor, Inversiones Deportivas de FBC Melgar, will remain with the institution. They sent a letter to Indecopi warning against these actions.
You question it despite the fact significant income In recent years, this creditor has practically not been fulfilled. Television rights revenue quadrupled; In addition, there is the money that… Conmebol Awards for the teams for their participation Copa Libertadores and Sudamericana.
For the current administrator of the institution: Ricardo Bettocchi, this reading is not so accurate. He reminded that management Rizqallah received a bankrupt club in 2014; not only with the insolvency debt, but also with other ongoing expenses, the amount of which even exceeds the insolvency debt.
In order to handle the payment of player salaries, technical command and other aspects, Rizqallah injected more than $2,700,000. There is a remaining balance of $700,000 on this loan.
The insolvency amendment plan contains information about the reasons for extending debt repayment until 2030. It states that the club is financially balanced, meets its ongoing obligations, but current cash flows are not sufficient to pay off the majority of the insolvency debts. In addition, two major investments are underway. one in the High performance center in the Mollebaya district j the lighting of the stadium of the National University of San Agustín (UNSA). The investment in the property is greater than the bankruptcy debts and in the lighting of the stadium, he noted. Ricardo Bettocchi.
Unsa Monumental Stadium. Photo: X
The income generated by the club is mainly used to finance expenses for personnel, technical management and other activities of the team. In addition, it is alleged that Melgar had difficulty obtaining payment for television rights last year and that the extraordinary income for 2022 was also not the same as last year.
The owner of FBC Melgar is Jader Rizqallah
Inversiones Deportivas FBC Melgar bears 90% of the debt. He acquired it from National Tax Administration Supervisory Authority (Sunat). Bettocchi made it clear that Sunat has no debts. The small remaining amount was paid off.
According to an investigation by Public Records, Pedro Renato Guerra Garib, cousin of Jader Rizqallah, appears as the general manager of Sports Investments Public Ministry because of money laundering. In formalizing the preparation process, it is claimed that Rizqallah is the true owner of the investments. The company was founded with a capital of 1,000 soles and purchased debts of three million. This raised suspicions in a criminal case that is currently archived.
The new agreement extending the restructuring stipulates that these debts must be paid in a single installment (balloon) or that advances on the capital can be made. Over time it will become clear whether the partners' prediction is true: that the creditors, Sports Investments, they remain with Melgar.
Ricardo Bettocchi, administrator of Melgar
In 2014, the association was taken on not only with the insolvency debts from the proceedings, but also with post-insolvency debts from current expenses. This was bigger than bankruptcy.
Furthermore, he had no working capital. Today you not only have a functioning club, but all obligations are paid on time. It is probably the only institution in Peru that does not impose sanctions or fines for delays. Even during the pandemic, we have not stopped fulfilling our obligations. Now we're investing High Performance Center and stadium lighting. It is valued in the club's assets. Both investments far exceed the bankruptcy debts. That must also be the analysis. It is difficult to understand if you have no knowledge of financial topics. The insolvency debt was paid off as planned.
