Julio Martínez, Director of Planning and Management at Elche, stated in a press conference on Tuesday that the agreement for the termination of coach Fran Escribá's contract with the club is "imminent" and is only awaiting the Valencian's signature.
Escribá's contract with Elche expires in June 2017, but the coach expressed his desire to leave the club to the president, Juan Anguix, weeks ago due to the wear and tear suffered in recent months and the uncertainty surrounding the new sports project after the administrative relegation of the club.
Martínez did not want to provide details of the agreement reached with the Valencian coach, although he affirmed that it has been "beneficial for both parties", as there has been "goodwill" in reaching a pact.
The Valencian coach had to pay 1,000,000 euros in the event of unilaterally breaking his commitment with Elche if the team was in La Liga, although that amount was reduced to 100,000 euros if the club was in La Liga 2.
However, Elche owed the coach five monthly payments, the bonus from last season, the current season's bonus, and 40% of the salary that he chose to defer to help the club comply with the salary cap. In total, the club's debt amounts to one million euros.
However, given the club's unstable situation, in the midst of a legal process to return to La Liga, both the club and the coach have chosen to reach an intermediate agreement. Escribá will receive a compensation amount in comfortable installments for the club, which also avoids the potential lawsuit from the coach and his collaborators.
Fran Escribá has spent three seasons on Elche's bench. In his first season, he achieved promotion to La Liga, and in the second and third seasons, despite economic limitations, he consolidated the team in the top category.
Alongside the Valencian, Josep Alcácer and Jose Marcarós, the team's fitness coach, will also leave the club.