Former Senator and former Secretary General of the Organization of American States (OAS), José Miguel Insulza, has joined the board of Azul Azul, the company responsible for managing Universidad de Chile. His appointment, which took effect following his election on April 28, comes amid mounting scrutiny regarding the club's ownership.
Insulza, 82, accepted the position following a proposal by José Ramón Correa, the entity's Vice President. According to reports from latercera.com, the former diplomat expressed his long-standing commitment to the institution, which he has followed since the legendary 'Ballet Azul' era, though he acknowledged that the nature of sports corporations has shifted toward a more commercialized model.
The new director addressed the controversy surrounding Azul Azul's largest shareholder, Michael Clark, who has previously been sanctioned by the Financial Market Commission (CMF) for irregularities. Insulza emphasized that while there is no legal obligation to know the origin of every single fund within a corporation, the relationship with Universidad de Chile demands greater clarity.
“At Universidad de Chile, there is an obligation to know who the owners are,” Insulza stated in an interview. The former minister noted that while he is not asking to track every financial movement, he wants shares to be registered under identifiable individuals to prevent opaque business dealings.
Transparency and sporting challenges
Insulza proposed that the board must take the necessary steps to ensure that every club owner is held accountable for their actions. He is seeking declarations from shareholders regarding whether they hold their shares personally or on behalf of third parties, asserting that his goal is institutional transparency.
Regarding his political career, the former OAS Secretary General dismissed concerns that the corporation's issues might affect his reputation. “If they tell me this is how it is managed according to the law, that is one thing, but I believe everything should be more transparent here than in other clubs,” he maintained.
On the sporting front, Insulza analyzed the current state of the squad managed by Fernando Gago. The director described the manager's style as more offensive than in previous periods, though he acknowledged that the roster still has shortcomings—specifically the need to recruit a clinical goalscorer to compete for the First Division title.
