The members of Rio Ave, meeting this Sunday morning at the General Assembly, approved by a large majority (more than 400 votes in favor and around 60 votes against and null) the constitution of the Sociedade Anónima Desportiva.
Until now, remember, Rio Ave was organized as a Socidade Desportiva Unipessoal por Quotas (SDUQ), and the change to SAD was voted in favor.
In addition to this point, the partners also approved the entry of Greek millionaire Evangelos Marinakis into SAD, with the purchase of 80 percent of the share capital.
On a third point, the partners approved giving carte blanche to the board chaired by Alexandrina Cruz to negotiate with Evangelos Marinakis the details of the sales contract for this 80 percent of SAD.
It should be noted that Marinakis will immediately invest 20.5 million euros, which will be used for three things, essentially: payment of debts, reduction of liabilities and compliance with the budget until the end of the season, particularly ensuring the payment of salaries up to 30 June 2024.
Furthermore, the agreement also guarantees other investments by Marinakis, which will not be included in this 20.5 million euro pie: investment in strengthening the team in January and investment in improving infrastructure.
Alexandrina Cruz also explained to members that the agreement with Marinakis establishes two very important points: all infrastructures (both current and those that will receive improvement works) will forever remain the property of the club, not passing to SAD, therefore, such as the current competition license (which guarantees the club the right to register in the League) will also remain in the club’s possession.
Evangelos Marinakis, remember, already owns Olympiakos, in Greece, and Nottingham Forest, in England, and it is expected that very soon he will add the ownership of SAD do Rio Ave to his club portfolio.
The associates gave the green light to this sale and the immediate entry of the Greek millionaire, with the only thing left to do was complete the deal.
2023-11-19 14:06:01
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