Fundesem director Cayetano Sanchez Butrón addressed students, workers and employers this Thursday, confirming that training will continue until the course ends. The circular aims to reassure the institution’s community about ongoing activities and the continuity of scheduled training despite the financial challenges the center faces. The message emphasizes that no alternate scenario is being considered at this time.
In the statement attributed to Sanchez Butrón, he describes an inner ache yet a steadfast spirit. The governing council at Ivace reportedly did not approve the plan presented by Fundesem European University, which proposed transferring some facilities to raise resources to cover mounting debts. Conversely, the ministry of economy subsidiary insists on ending the lease, citing a debt of 1.65 million euros that could threaten the continuity of the business school and the center.
According to the document, no official announcement has been made on Thursday morning. The circular notes that the agreement with the European University would involve using some facilities to offer health-related degree programs and joint master’s degrees, with a projected value of four million euros over ten years. This financial arrangement would be in addition to a joint educational effort.
Sanchez Butrón recalls that the institution’s governing bodies regularly meet to inform and involve all parties about the current situation and to consider decisions. He states that the best options for Fundesem have to be found through careful discussion and consensus.
Alicante fails again
Despite the uncertainties, the document underscores that the school will continue its educational mission as before. The plan is to finish the course with just over 15 days remaining, ensuring that students receive the planned training. The leadership stresses that no alternative scenario is being contemplated at this moment.
Alternatives
Beyond the circular, the institution is examining several options for the business school’s future. The leadership is evaluating quick decision paths, including potential financial contributions from employers and guardians to cover portions of the debt, or bringing in a new investor. Other avenues being explored include negotiating a revised payment schedule with the Generalitat or pursuing a settlement, all aimed at stabilizing the institution on a regular basis.
Fundesem traces its origins to the mid-1960s when it moved to its current campus on Athletes Brothers Torres Street in Alicante. A three-way agreement led the Metropolitan Municipality to grant land and Ivace, then Impiva, to finance and rent the training center. The region had hoped the project would grow into a prominent private university, but the debt situation and liquidity problems soon emerged.
The collapse of the housing bubble brought liquidity problems that culminated in 2011 with its rent arrears and the first eviction attempt by the Generalitat. That period also saw a change in leadership and a restructuring deal in 2019 under Sanchez Butrón. Since then, the school has faced ongoing financial pressures, with the pandemic amplifying the challenges. In mid-2023, Fundesem reached an agreement with the European University and drafted a new strategic plan, yet the necessary approvals from relevant administrations remained pending. The City Council adjusted terms to permit land transfer for the private university, but Ivace held reservations about that option.
Today, the path forward is a matter of careful assessment and timely decisions, guided by the aim of preserving educational quality and safeguarding the institution’s role within Alicante’s higher education landscape. The focus remains on delivering value to students, staff, and partners while navigating the financial restructuring required to maintain continuity.