SAD FC Porto confirms expectations of capital injection and debt renegotiation

FC Porto’s SAD confirmed on Tuesday that it expects to raise up to 70 million euros by June through negotiations on the operation of the Dragao stadium, as well as the renegotiation of medium- and long-term debt.

In a statement sent to the Securities Market Commission (CMVM), the blue-white sports company, whose shares were suspended from trading this morning, repeats statements made by President Pinto da Costa on Monday in an interview with SIC television. .

FC Porto SAD said it expects “the final closure of the contract with a reputable international company with proven experience in optimizing commercial revenues associated with major sports equipment by June 30, 2024.”

“Since this partnership is embodied in a minority share in one of the companies with the commercial rights of the FC Porto group, through a capital injection of between 60 and 70 million euros, as previously reported to the market, the company will therefore increase its equity capital by such ​​the same amount,” the above-mentioned message says.

On Monday Pinto da Costa, who has led the club since 1982 and is standing again for leadership in the April 27 election, pointed to an influx of capital from an agreement to commercially operate Porto’s Dragao stadium in June. , to 15 years of work at the North American company Legends.

“The amount we may not receive [pela ausência da edição 2024/25 da Liga dos Campeões], a lot, but the Europa League will have much more money. €70 million from the stadium deal will arrive in June. [celebrado com a Legends]”, Pinto da Costa repeated on Monday.

In the same interview, the Blaugrana president refused to leave the club dependent on investment funds, despite appointing businessman Joao Rafael Koehler, founder and administrator of the venture capital management company Quadrantis, as his vice-president.

This company includes Connect Capital, which in April 2023 signed a loan of 14.5 million euros (ME) for FC Porto SAD, which will mature before January 2029, as stated in the latest half-year report and financial statements. from “dragons”.

“They have a plan in the best interests of the club. We’re going to reduce the liability significantly and get 250 ME of financing at a much lower interest rate. Once the financing is done, they will charge us about half the interest we pay.” , the leader revealed.

This Tuesday, the SAD of the “dragons” reports that, despite not yet closing the financing in this regard, the FC Porto – Futebol, SAD is in negotiations to renegotiate its medium- and long-term debt for an amount estimated at 250 million euros. at a competitive interest rate in market conditions.”

Pinto da Costa, who is in his 15th consecutive term and is the coach with the most titles and longestevity in world football, will run for the presidency of FC Porto along with Andre Villas-Boas, the former coach of the football team, and businessman Nuno Lobo. defeated the 2020 candidate in the governing body elections on 27 April at the Dragao Stadium in Porto.