FC Porto SAD expects to achieve “very positive results” for the year

SAD FC Porto plans to achieve “overtly positive” financial results on December 31, the national football runner-up said this Monday, hoping to “significantly improve” its negative net worth.

In a filing with the Securities Market Commission (CMVM), the Dragons outlined their expectations for the end of the first half of 2023/24 after they scrapped two consecutive profits last year with a loss of €47.627 million (ME). year, starting to accumulate negative 175,980 ME of equity.

FC Porto SAD expects this book value to change depending on the accounts presented at the end of the calendar year, in combination “with other ongoing operations”, but admits that it cannot guarantee that equity “will already be positive at this date”.

This topic was commented on by the Dragons’ president, Jorge Nuno Pinto da Costa, in an interview with SIC television on November 22, when the leader set the goal of “making a profit and having a positive capital.” or close to it in December.

Six days earlier, Porto SAD football club announced it had signed a 15-year agreement with North American company Legends for the commercial operation of Porto’s Dragao stadium, although neither party disclosed the amount of funds involved.

“Although the specific contours of the partnership are still being discussed, it will be embodied in a minority stake in one of the companies with the commercial rights of the FC Porto group and an initial investment to modernize the stadium and stimulate related projects. income,” explained the “dragons” of CMVM.

Created in 2008, Legends partners with renowned international competitions, including the FIFA World Cup, as well as some of the world’s leading clubs such as Real Madrid, Barcelona, ​​Manchester City or Arsenal, committing to “seek partnerships relationships” around the world. world for FC Porto, as well as sponsorship and naming of the Dragao stadium.