The president of CD Tenerife, Paulino Riverosaid this December in a speech at the meeting of the club’s shareholders, it is still on his agenda to “shake” the fans of Tenerife so that they come to the club, which generates an average of more than 17,000 spectators for each match in Rodríguez Stadium. Lopez.
Rivero stated that “with a double vision” he highlighted 50 agreements with clubs throughout the Canary Islands and the investment in infrastructure serves to strengthen the Canarian quarry. There are now 7,800 young Canarian footballers benefiting from these alliances. In January 2024, a program will be launched with students and will provide assistance to 4,000 minors.
CD Tenerife, Rivero said, is less dependent on TV revenues, 39% when Éibar is 89%. This is because, said Rivero, of that fact Sponsorships increased to 14 companies as well as the support of the Cabildo of Tenerife and the Government of the Canary Islands “so that it is a club for everyone, and we have to achieve a great feeling of the island.”
The general meeting of shareholders approved a capital increase of 3,579,420 euros by issuing 357,942 shares at 10 euros of nominal value each, with the aim of tripling the entity’s share capital.
Rivero explained that one of the challenges of the strategic plan for the next four years is “put the club in a position to fight for promotion“and to do this they must “strengthen economic conditions.”
Capital raising has an additional purpose, the follow the recommendation of the Higher Sports Council so that sports corporations have a minimum share capital of around five million euros. So, Tenerife is from 1,789,710 to 5,369,130 euros.
“The capital increase is aimed at ensuring that the club will continue to participate in an important way shareholders, with respect maximum to minority shareholderssaid Paulino Rivero.
Source: La Verdad
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