Presa, Rayo, LaLiga And The Why

Another shameful week in the presidency of Raúl Martín Presa, with the announcement from the regional government of Madrid that Rayo were having their licence for the ground revoked and that, due to the urgent repairs needed, the club would be forced to play elsewhere for an indeterminate period.

Some have welcomed this, but it is missing the point. Presa has wanted to reach this point where the club is pushed out of the barrio. It has been a long term aim for someone who bought the club for a nominal fee and has always sought to maximise profits while refusing to put any money into the club.

That motive has seen him abandon the women’s team, who were once the envy of many LaLiga clubs, because they cost money and do not generate profits. It has seen the academy abandoned and the training ground out of use for months because of a fungus infection in the grass.

Last season saw the pitch ripped up and replaced just three days before a crucial LaLiga fixture, one that had to be postponed, and yet nothing bad came of it for Presa. Presa has repeatedly antagonised the fanbase and, from the outside, appears intent on destroying the connection between the club and the fans.

Two big questions surround Presa and Rayo. One is why he is doing all this and what his long term aim is. Secondly, why are LaLiga not intervening? In this newsletter, I am going to try to address both.

In terms of Presa, since he first bought the club, question marks have swirled around him. When he was first named as a buyer, many presumed, and some still do, that he was a front man for either the former owners, the Ruiz-Mateos family, or some mysterious organisation.

Rumours have swirled in part because Presa’s background and business involvements did not appear to support the idea that he could own a LaLiga club. His companies were mainly involved in advertising, and the deal that saw the club bought also added fuel to the fire.

Rayo had been valued at around €50-70 million when the controversial Ruiz-Mateos family put the club up for sale. Indeed, the lawyer acting on their behalf later said in a radio interview that he was speaking to buyers with that valuation in mind.

Joaquín Yvancos, who was the lawyer for the selling party, stated that he was then, out of the blue, instructed to accept and proceed with an offer from Martín Presa for a deal worth 1 cent per share, which would value the club at between €600 and €1,000.