New Xerez president sets goals for strugglers

MADRID - Struggling Xerez, bottom of La Liga and in administration, must quickly finalise an agreement with their creditors, appoint a coach and strengthen the squad, new president Federico Souza said on Monday.

The tiny Andalusian club, who were promoted at the end of last season, have won just one match and scored only seven goals in 18 games on their first appearance in the top flight and have yet to find a replacement for Jose Angel Ziganda, who was sacked as coach last week.

"In the economic area, we now need to reach agreement with the creditors and work in a more effective way," Souza said at the official presentation of his board of directors.

"In the sporting sphere, the main task is to turn the team's situation around and make the signings that will help the current squad.

"We have a coach in mind ... and we are waiting for the approval of the insolvency administrators to be able to present the new coach as soon as possible."

Xerez have an annual budget of around 9 million euros compared with the more than 400 million euros La Liga giants Real Madrid and Barcelona each command.

One of the Xerez's three administrators said last month they were pushing for a debt reduction of 30 percent if the club avoided relegation and 50 percent if they went down.