To defend the SAD, Cúneo Libarona named three giants of Europe who are not giants

To support the Government’s decision to advance in the authorization so that civil associations can transform into Sports Joint Stock Companies, the Minister of Justice of the Nation, Mariano Cúneo Libaronanamed three giants of European football who, in reality, are not.

“In the world, all the clubs, all the clubs, are companies with private capital. And look at the cases that just came to mind. The club that manages the most money is the Bayern Munichwhy The owners are Adidas, an insurance company, Allianz: 450 million annual budget,” he began his speech at a press conference to announce the modifications to the General Inspection of Justice.

“Second, Real Madrid400 million pesos, eh dollars, eh, euros annually -he corrected himself-. Third, the Barcelona and fourth, the PSG. All clubs continue with private capital. All the important clubs. And those clubs have grown enormously.”

However, of those four cases cited by the minister, only one is a SAD: Paris Saint Germain, which is under the orbit of Qatar Sports Investments.

Instead, The Spanish clubs Real Madrid and Barcelona are the partnerswhile only 25% of Bayern Munich’s shares are in private hands.

Before being chosen by Javier Milei as his Minister of Justice, Cúneo Libarona drafted the Racing Statute, where he is a member of the Board of Directors. Asked about that role, he clarified that he resigned “in November from the legal part” and was left in charge of the school.

“I put in article 3 that it was prohibited to do so -he acknowledged-, without prejudice to the fact that a higher law, such as a presidential decree, is over a statute of a civil association. But each club chooses, it is the owners, the members, who are going to vote.”

As he justified, Racing is not among the clubs that need to be SAD because it is “very well managed and organized.” “Among the benefits of the new system proposed by President Milei, first is the freedom, that the members choose. Not all clubs need it. Important clubs, Boca and River, which have considerable income, Racing which is well managedor, perhaps his associates say ‘no way do I want this system’he added.

And he emphasized: “But everyone else needs it. “The vast majority require it and it is essential because the economy does not provide it and it will imply a great improvement.”