The dollar flies and River suffers collateral damage: because the arrival of Colombian Miguel Borja was complicated

In the midst of a turbulent economic climate reinforced by the resignation of Martín Guzmán and the arrival of Silvina Batakis at the Ministry of Economy, with increasingly large exchange restrictions complicating dollar operations, River Plate suffers collateral damage that was not in nobody’s hands It is that Núñez’s club will have difficulty transferring payments in North American currency due to the restrictions that the Central Bank of the Argentine Republic (BCRA) will impose at this time. And, when it seemed a given and I already had a flight date to Buenos Aires, the arrival of Miguel Borja is paralyzed for now and is in danger of falling.

Sources of that institution and specialists in economics have confirmed this Clarione that for Argentine football clubs there will no longer be the sale of the official dollar through the Central Bank, to stop the exit of the US currency from the country. At risk, then, transfers to Argentine football with players abroad. In this way, some season tickets could be cut off a few days before the closing of the booklet, scheduled for Thursday.

Although management wants to remain optimistic that the merger can take place, in Núñez they know the situation is extreme. The truth is that River must send the dollars and close the attacker’s arrival before the same Thursday in order to register him for the local tournament.

“We have pesos in our account and we are waiting for the Central Bank to authorize the transfer”, a senior leader of the Núñez club confirmed to this newspaper. And I add: “It is a very complicated situation, nothing is easy in this country”.

River has already deposited the equivalent in pesos of one million dollars into his account, the amount of the first installment that he agreed with Junior for Borja to travel to Argentina and for the Barranquilla club to send the transfer. Namely, Núñez’s club credited 195 million pesos, as the conversion for the clubs is at the official price.

The problem now is that, according to the new measures that the Central Bank plans to implement, there would be no more sales of dollars at the official value for the clubs. Hence, football institutions should resort to the MEP dollar, which at the time of this writing was 272 pesos, more than double the official. Therefore, River would have to pay 408 million pesos or renegotiate the terms of payment with Junior.

However, in addition to the higher amount, there is another drawback. The acquisition of the MEP dollar consists of the purchase of a bond in pesos for the subsequent sale in dollars. But there is a restriction on this market which is one working day “parking”. That is to say: the obligation to keep the purchased security in the portfolio for 24 hours before selling it and carrying out the conversion. And you risk the value going up a lot more in one day.

Therefore, Borja’s transfer to River may fall. And, to make matters worse, in this context Luis Suárez’s dream may begin to fade. These problems, however, do not only concern Núñez’s club, of course, but all of Argentine football.