Arrest warrant issued for Guillermo Álvarez, president of Cruz Azul
On July 29, “Billy” Álvarez was incriminated for having connections with criminal organizations and money laundering.
The Attorneys General’s Office (FGR) issued an arrest warrant for Guillermo Álvarez, the president of Cruz Azul football club, for paying non-existent transactions to ghost companies.
The investigation made by the FGR alongside the Financial Intelligence Unit (UIF) found that the irregular transactions dated back to 2011.
However, to talk about Cruz Azul FC is to talk of something bigger than just a first division team.
Not only because of its greatness and vast history, but because the team is also part of a larger corporation.
Cruz Azul´s corporation is in charge of several other companies, including a cement company under the same name.
What all the companies have in common, other than their names, is the man in charge of ruling them, whose name is Guillermo “Billy” Álvarez.
Among the charges against the businessmen presented in recent days, the soccer team is also involved in some of them.
According to the research done by UIF, the team’s image was used to legalize certain million-dollar transactions, such as the purchase of players at higher prices.
Cruz Azul’s directors such as Victor Manuel Garcés, Miguel Eduardo Borrell, and Mario Sánchez Álvarez are some of the names involved in the transactions, including connections with criminal organizations.
The question fans are asking themselves: what is going to happen with the team?
The revelations also come in the year that appeared to be Cruz Azul’s year, after more than 20 years falling short in its quests for the title.
According to a statement from the league, the team will be disaffiliated from Liga MX only if Álvarez continues as the team’s president.
However, if the current president decides to step away and leave the team, Cruz Azul won’t have any affiliation problems and will be able to compete normally next season.
What Mexico's First Division is saying is that they don’t mind working with a team linked to criminal organizations as long as the names involved don’t appear in any legal transactions related to soccer.
The solution, as it was proposed years before when Álvarez faced similar charges, is to dissociate the club from the corporation and maintain both as individual corporations.
The only problem is that Alvarez is passionate about soccer, and he also understands the amount of money that the game generates.
That's why, although his departure seems to be the most viable option for Cruz Azul to compete, it's hard to think that he would leave the team so easily.