Ithaka invests €65 million in FC Porto

The Madrid-based investment company Ithaka, which had investment experience in sports and sports infrastructures in Europe, has invested an initial €65 million sum in Porto Football Club. (FC Porto SAD)

According to the club in a communiqué, the new investor will invest €65 million and have 30% of the economic rights of a new company that has been set up to exploit the revenues from the Dragon Stadium over the next 25 years.

Porto Football Club has signed an “investment and shareholders agreement with Ithaka Infra III, s.l. (‘Ithaka’), a vehicle of Ithaka Investments Europe, SL” sates the club … “with a view to increase the use and economic profitability of the Dagon Stadium” adds the club.

The same communiqué makes clear that the new partnership will “have the rights to 30% of the economic rights of the new company (to be incorporated in Grupo FC Porto) whose role will be to increase the commercial potential of the Dragon Stadium, meaning corporate hospitality, sponsorship, ticketing, naming rights, Porto Football Club Museum, stadium visits, sporting and concert events, as well as other revenues, present or future, related to the Dragon Stadium.

Recently, FC Porto SAD announced that it had closed a €250 million financing deal on the back of a rescheduling of its medium and long-term debt and which involved a €70 million capital injection related to stadium exploration rights.

FC Porto has an estimated financial debt of €311 million and total liabilities of around €500 million.