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Spanish Club Racing Santander's Fans, Ex-Players Present Offer To Guarantee Survival

Spanish second division side Racing Santander "passed its test," according to Roberto González of AS. Without "magnates, investment firms or politicians, Racing has been able to avoid the disappearance of 102 years of history." On Tuesday, "three hours before the deadline to present offers from investors" worth more than €25,000 ($27,000), Manolo Higuera, the president of the association of former Racing players, "presented the offer guaranteeing the survival of the club." The document, "though not finalized in terms of the exact quantity that will be invested, guarantees two things: the payment of the capital necessary for a capital increase, and also that by July 27 -- the deadline set by Spain's Superior Sports Council (CSD) -- the club will have raised the necessary social capital" of €2.7M ($2.9M). In addition to the proposal from the club's former players, "also notable is the demonstration from Racing fans," who added 9,500 shareholders and €621,000 ($673,000) (AS, 4/22).

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