Valletta FC President Forgives Relegation-Threatened Club Of €1.5 Million Debt
Valletta FC President Alexander Fenech has announced that he will forgive the club of around €1.5 million in debt it owes him.
“I informed my colleagues during a committee meeting that I will be forgiving every cent that I have written down on the club’s financial books,” Fenech, who is also the CEO of the Brown’s pharmacies group, wrote in a letter to Valletta FC fans.
He said that he has made this move because he doesn’t want the club’s future to be in any way compromised by the debt it has with him.
“For me, the club comes only after my family,” he said.
One of Malta’s most successful Maltese Premier League teams, Valletta FC is staring down the barrel of relegation to the Challenge League.
It is currently in 12th place, five points behind safety, and fell to a 2-0 defeat to relegation rivals Santa Lucia last weekend.
Will Valletta FC get relegated this year?
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