France Bleu Béarn Bigorre: what was your reaction when you learned of the League’s decision?
David Otto: First I was disappointed. Then I read the reasons that led the League to make this decision and I found it unfair. I therefore wrote to the League in response explaining that these reasons were unfounded and inappropriate, to appeal.
Why speak of an unfair decision?
The League gives three reasons. The first is that we would not have respected the commitments made in a letter sent to the League last January in which we showed our ability to increase the capital of Elan. They are wrong. We have enough funds in our accounts to ensure the deficit (estimated between 1 and 3 million euros editor’s note). We had them last season and we will have them next season. We mentioned 2 million euros of contribution. 1 million this year.
The second is that CSG would not provide a guarantee and again that is not true. We told the League that we were ready to maintain our commitments in the capital of the club this year. So it’s unfair.
Finally, there would be a risk of not keeping to the budget planned for the 2022-2023 season. We are aware that there is an economic risk, but we are ready to face it. Next season’s budget is more “conservative” than last season’s (about 5.5 million compared to 7 million last season). We’re going to achieve our sponsorship goals and we’re going to put a competitive team on the court. We have the coach, the players and the support of everyone to make it happen.
How do you intend to prove to the League your ability to reduce the deficit?
Are we ready to stick to our January commitments? Yes, we have proven it and we will continue. We will reduce the deficit because we have funds in our accounts. We will prove it.
The city of Pau says that it will ask for reimbursement of the sums due whatever happens. What do you think ?
We had reached an agreement to buy back the shares sold by the urban areas of Pau and Lacq-Orthez, but pre-existing liabilities appeared after the transaction. And so the price had to be lowered, as in any transaction. I’m not saying there was bad will, but the contract allows us to ask for a reduction in the purchase price. An agreement has been reached (with the city of Pau) to increase it from 800,000 euros to 600,000 euros. What remains to be done is to agree on the terms of payment.
A lot of people are disappointed, angry including at you, what do you tell them?
I came to France, Pau and Paris to find a solution. I’m sorry they’re disappointed, I’m trying to make things work. The company I own has invested in The Elan as a private investor more than anyone in the history of this club. We have invested in capital more than anyone… forever, since this club has existed! So if people are disappointed… I’m sorry. And if they want to trade places with us, God bless them. And I don’t ask them either. I try to make things work! We’ll see what the League does, but I don’t understand the reasoning that led them to make this decision.
I don’t make the decisions for the League
If the League confirms its decision, what will happen from your point of view?
I’m not there yet. There are still solutions before we get there.
Will you leave the club?
We didn’t talk about that. It’s going faster than the music to ask these questions. It’s not something I’m into right now.
Will Elan be in Elite next season?
It’s not up to me. I don’t make the decisions for the League. We intend to maintain financial support for the club and we are ready to continue to take economic risks. There is evidence that we have money in our account.