FC Porto home venue massive rejig plans

Article posted by Coliseum, February 26^th, 2024

Image: Estádio do Dragão, Cédric23170, CC BY-SA 4.0

FC Porto SAD – a Portugal-based company that owns and manages the FC Porto soccer club – has reached an agreement with an international company to become a minority shareholder in one of the group’s companies in exchange for an investment of between 60 and 70 million euros to modernize the FC Porto home venue – the Estádio do Dragão in Porto, Portugal.

‘ECO’ stated that the above company is not the premium experiences company Legends with which FC Porto struck a 15-year strategic partnership deal in November last year to transform the fan experience and in which Legends will support “the food and drink experience at Estádio do Dragão”.

The Futebol Clube do Porto Futebol SAD (FC Porto) is a Portuguese company that manages the FC Porto soccer team. The company also promotes and organizes sports events and football matches.

The FC Porto or simply Porto is a Portuguese professional sports club based in Porto, Portugal. It is best known for its professional football team playing in the Primeira Liga, the top flight of Portuguese football.

The Estádio do Dragão is an all-seater football stadium in Porto, Portugal, and the home ground of FC Porto since 2003. It has a seating capacity of 50,033, making it the third largest football stadium in Portugal.

Founded in 2008, New York (US)-based Legends is a premium experiences company with six divisions operating worldwide – Global Planning, Global Sales, Hospitality, Global Partnerships, Global Merchandise, and Global Technology Solutions – offering clients and partners a 360-degree service solution platform to elevate their brand and execute their vision.

Currently, Legends works with marquee clients across business verticals including professional sports, collegiate, attractions, entertainment, and conventions and leisure. They are the industry leaders in designing, planning and realizing exceptional experiences in sports and entertainment.

‘ECO’ quoted Fernando Gomes, Financial Administrator of SAD Porto as stating that “We have agreed with a reputable international company, with recognized experience in optimizing commercial revenues related to large sports equipment, a partnership that will be embodied in a minority stake in one of the companies the rights of which lies with the FC Porto Group and an initial investment with the greater objective of lending a futuristic touch to the Estádio do Dragão, thus boosting revenues.”

He added that the agreement will also result in capital injection of circa between 60 and 70 million euros, to be realized in the fourth quarter of this year, which will directly impact the equity capital of FC Porto – Futebol, SAD.

In the presser that followed the above announcement, it was revealed that the amount of 60 to 70 million is the “subscription of a financial participation and, therefore, it is the subscription of capital”, adding that “financial injection will help in totally transforming the above arena”.

Gomes added, however, that “in addition, whether in the field of advertising, in the field of sponsorship, in the field of naming, or in the management of the equipment itself, we will have a resident team here that will help, particularly with catering. As far as catering is concerned, Legends will handle it.”

The SAD Porto authorities refused to reveal the name of the international company which will be infusing money to give a new look to the Estádio do Dragão.

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