Sport
The announcement was made this Wednesday, around 24 hours after the regulator ordered the suspension of negotiations.
Octavio Passos
The Securities Market Commission (CMVM) determined this Wednesday the lifting of the suspension of trading in shares of Futebol Clube do Porto – Futebol, SAD.
Em statementthe CMVM states that the decision takes place “following the disclosure of relevant information to the market” and approximately 24 hours after the regulator ordered the suspension of trading.
On Monday, in an interview with SIC, Pinto da Costa, president and candidate for the leadership of FC Porto in the April 27 elections, had praised a future capital contribution arising from the agreement sealed for 15 years with the North American company Legends .
After the CMVM ordered the suspension of negotiations, the ‘blues and whites’ explained that FC Porto SAD plans to sign a contract with Legends in April, raising between 60 and 70 million euros (ME) for negotiating the commercial exploitation of the Estádio do Dragon.
In a statement submitted to the CMVM, FC Porto updated the information it had transmitted hours earlier to the regulator, in which they pointed out the signing of this link with an international company by June 30th.
The global amount “will be recorded immediately” in FC Porto SAD’s accounts, even if the respective payment “may not be made in full at the time of signing”.
The partnership will be embodied in “a minority stake, of up to 30%, in a new company”, which will exploit commercial revenues directly associated with Estádio do Dragão, including ticketing or the venue’s designation rights, among others.
“Since this company will be part of the consolidation perimeter of FC Porto SAD, the value of this injected capital will be incorporated into the company’s consolidated accounts. FC Porto’s partner company will receive a portion — which will predictably be 30% as dividends – the results generated by the businesses, with full risk sharing, from which significant growth is expected, given the international experience that the partner will bring to the commercial structure of the FC Porto Group”, explained the SAD administration chaired by Pinto da Costa.
Pinto da Costa, who is serving his 15th consecutive term and is the manager with the most titles and longevity in world football, will run for president of FC Porto with André Villas-Boas, former coach of the football team, and the businessman Nuno Lobo, defeated candidate in 2020, in the elections for governing bodies, on April 27, at Estádio do Dragão, in Porto.
With Lusa