Athletic chairman steps down
Friday, June 25, 2004
Article summary
Athletic Club Bilbao chairman Ignacio Ugartetxe has announced that he will not be standing for re-election.
Article body
'Right moment'
Ugartetxe explained that, a year after taking charge of the club, he and the board felt that their electoral programme had been completed. "It is the right moment to make this decision," he said. "The team is back in Europe and the economy of the club is back on track."
'Objectives met'
He added: "Due to professional and personal circumstances, I have taken the decision to terminate my mandate with knowledge that all of the objectives that were set one year ago have been met."
UEFA Cup place
The 43-year-old economist took office in June 2003 following the death of former chairman Javier Uria. During Ugartetxe's time in charge last season Athletic finished fifth and qualified for the UEFA Cup.
