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SBD Global/July 4, 2014/FinancePrint All
Atlético Madrid will on Friday open the first phase of a capital increase, according to the EFE. The club is looking to sell 484,059 shares, which "each have a nominal value" of €8.50 ($12) plus a €13 ($18) share premium, making each share worth €21.5 ($29). The sale of all the shares could net Atlético up to €10.4M ($14.2M). The process will be divided into three phases. The first phase, scheduled to start Friday, will be open to current shareholders. If any shares remain, "a second phase will open up for shareholders" affected by a capital increase held in '03 that was canceled by a court ruling in '11 which was recently upheld. The third phase, "which will take place if further shares remain, will be open to both current shareholders and those affected by the canceled capital increase" in '03 (EFE, 7/3).
Spanish football club Eibar, which earned promotion from Spain's second division to La Liga for the '14-15 season, is "on the verge of raising the amount of money necessary to complete its promotion," according to EL CONFIDENCIAL. Eibar announced via Twitter that it has reached 95% of the "share capital" of €1.7M ($2.3M) that it "had to raise by Aug. 6 to meet La Liga financial regulations." The club's campaign "received a boost after its on-field promotion, which it earned by finishing first in the second division." The involvement of "people from all over the world -- there are shareholders from 38 countries -- has moved Eibar very close to its objective and its participation in La Liga is nearly guaranteed." The remaining 5% that the club is lacking amounts to "little more than" €86,000 ($117,000). The "uncertainty over the capital increase has not stopped the athletic department from working." Eibar has already renewed coach Gaizka Garitano and players including Txema Añibarro and Aitor Arregi and it has also signed Javi Lara and Dani García (EL CONFIDENCIAL, 7/3).
Navarre, Spain Government President Yolanda Barcina announced that "she was expecting good news on the negotiations" between Spanish second division side Osasuna and the Spanish tax authorities, according to the EP. The negotiations pertain to the club "paying its debt to remain in the second division." Barcina pledged that the Navarre Government will collaborate with Osasuna to help prevent it from relegation to the third tier. Despite Barcina's announcement, it "will be Lourdes Goicoechea of the Spanish tax authorities who will have to confirm the details." Navarre Government sources indicated that the tax authorities "have analyzed a plan submitted by Osasuna and were able to reach a solution" (EP, 7/3).