FC Porto has announced a significant restructuring of its agreement with Spanish investment company Ithaka, aiming to facilitate redevelopment work and enhance the operation of Estádio do Dragão. Initially, in February, the club had communicated an investment partnership with a “reputable international company,” later revealed in April as Ithaka.
The original agreement granted Ithaka the right, over the next 25 years, to hold 30% of the economic rights of a new company, Porto Stadco, dedicated to increasing the commercial potential of the Dragão. This included areas such as corporate hospitality, sponsorship, ticketing, stadium naming rights, the FC Porto Museum, stadium tours, organization of non-sporting events and concerts, among other income related to the facility.
Under the initial terms, Ithaka was set to invest €65 million in FC Porto, with approximately €30 million reinvested into Estádio do Dragão during the early years of the partnership, and the remainder intended to strengthen the club’s financial position.
Source: The Stadium Business