“If CSG is a problem, we’ll find a solution”

How do you analyze the failure of your appeal to the DNCCG?

This action seems to me very unfair and biased. The original decision explained…

How do you analyze the failure of your appeal to the DNCCG?

This action seems to me very unfair and biased. The initial decision made it clear that we did not maintain the commitments outlined in our January 7 letter, which is incorrect. On Monday, we produced the required collateral, approximately €2 million in cash, by converting our cryptocurrency wallet into dollars ahead of this second meeting. For its part, the LNB was against the fact that we were no longer subsidized by the city and the debt was too high, while we think we can afford it and we told them so. But in my view, the committee had already made its decision even before this second meeting.

What will happen now?

We are studying the possibilities of taking over the FFBB Appeals Chamber, and a decision has not yet been made. But there is an even bigger problem, which is the extremely negative climate that has been set against CSG. No one can succeed without the support of sponsors, investors, fans and even less if the communities do not provide subsidies.

What you mean, ? The city has honored its commitments this season…

I broke them. This I understood from the arguments made by the LNB, which contested the fact that on June 27 the city did not vote to maintain its support and that, in fact, we cannot include this amount (editor’s note, around €1.3 million) in our interim budget for the 2022-2023 season.

There was no voting one way or another during the municipal or communal council, at the end of June …

If you have any information to provide me I am interested because LNB used this information.

1 million euros is the minimum we sell it. This will be the basis for starting negotiations.

Can we say that the story between CSG and Elan is now over?

not necessarily. I don’t know what we can expect from the appeal to the FFBB, if the procedure will be more fair than that of the LNB. CSG has no intention of giving up, but we didn’t come here to cause trouble either. If the city, sponsors, and fans think our CSG is a problem, we won’t go against their will. We’ll be ready to work on an exit plan. We will try to find a solution with them.

One solution is to resell your shares. Are you ready for it?

If there are people interested in the acquisition, they can of course contact me. I have read the press talking about the interest of a group of investors. If they want to talk to us, we are ready to listen.

Have you ever contacted potential buyers?

no. No one came to see me to tell me that they were interested in taking our stakes in Ilan.

In selling, the key is always price. What will you have?

Who knows… I don’t have a set amount on my mind. I know the money CSG has put in this season to ensure the club is running and I would say our desire is to take it back in case of sale.

The CSG investment comes to €791,176, and we get to €1 million if we add the money from the tokens you reinvested. A million euros, that would be your number?

yes. 1 million euros is the minimum we sell it. This will be the basis for starting negotiations.

Your claims may seem too high and complicate the sale.

I don’t think it’s very high, this club has a very high development potential.

CSG has been affected by the actions of these people, including LNB, who have failed to meet our commitment proof

CSG had an innovative vision for sports finance, linked to token capital and a real estate project. Does this failure challenge your model?

I am very disappointed with the turn of events. Things didn’t go the way we imagined. The reasons are many. Some people did not understand what we were developing and immediately faced a lot of opposition. We listened to the criticism and tried to find solutions. CSG was hurt by the actions of these people and I included LNB who did not respect our evidence of commitment. But, personally, I’m a lawyer who works on projects other than tokens, CSG investments beyond this topic alone.

Specifically, regarding tokens, what will happen to those that have been acquired by fans?

These people will remain the owners of the tokens, including in the event of a sale.

But it will be of no value if CSG is no longer around to continue this project…

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