Brief: FC Porto Signs Strategic Partnership To Increase Use And Economic Returns Of Estadio Do Dragao

Futebol Clube do Porto Futebol SAD

19/04/2024 06:34

April 19 (Reuters) - Futebol Clube do Porto Futebol SAD
 FCPP.LS :
    * SAID ON THURSDAY IT SIGNED INVESTMENT AND SHAREHOLDERS'
AGREEMENT WITH ITHAKA INFRA III TO INCREASE USE AND ECONOMIC
RETURNS OF ESTADIO DO DRAGAO 
    * ITHAKA TO BE ENTITLED TO 30% OF ECONOMIC RIGHTS FROM NEW
ENTITY
(TO BE INCORPORATED WITHIN FC PORTO GROUP), FOR NEXT 25 YEARS
    * THIS COMPANY SHALL BE DEDICATED TO CAPITALIZING ON
STADIUM'S
COMMERCIAL POTENTIAL
    * ITHAKA HAS COMMITTED 65 MILLION EURO INVESTMENT TO FC
PORTO, OF
WHICH ABOUT 30 MILLION EURO WILL BE FULLY REINVESTED DURING
FIRST YEARS OF PARTNERSHIP IN STADIUM AND REMAINDER TO ENHANCE
FC PORTO COMPETITIVENESS
    * PARTNERSHIP EXPECTED TO START AT BEGINNING OF NEXT SEASON
    * AFTER 25 YEARS, FC PORTO WILL RECOVER 100% OF ECONOMIC
RIGHTS OF
STADIUM
    * FC PORTO RETAINS CONTROL AND GOVERNANCE OVER STADIUM'S
OPERATIONS AND FULL OWNERSHIP OF STADIUM THROUGHOUT PARTNERSHIP
TERM
    * ALLIANCE IS EXPECTED TO INCREASE SIGNIFICANTLY STADIUM'S
REVENUES
    * ITHAKA INFRA III IS INVESTMENT VEHICLE AFFILIATED TO
ITHAKA
INVESTMENTS EUROPE

        
 Source text: https://tinyurl.com/yc2t6xt3
 Further company coverage:  FCPP.LS  

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