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  • 16 NOVEMBER 2024
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Pinto da Costa predicts the club will be strengthened with financial restructuring

The financial reform planned by Pinto da Costa, president of FC Porto since 1982 and running for a 16th consecutive term in the club's elections on Saturday, aims to increase the competitiveness of the national football runner-up.

Pinto da Costa predicts the club will be strengthened with financial restructuring
Notícias ao Minuto

16:26 - 24/04/24 por Lusa

Desporto FC Porto

In a set of written answers sent today to the Lusa agency, the 86-year-old leader rejects that the cost reduction plan for the 'blue and white' structure proposed by the list "Todos pelo Porto" affects the value of the football team, third place in the I League.
"We propose to increase the club's structural revenue in the short term. We want to do this through three proposals: double the revenue in three years, through an annual increase of 25%; reduce total costs by 20% from the first year, from the restructuring of the FC Porto Group companies and the reinforcement in the evolution of digital maturity; finally, proceed with the refinancing of the liability, through a financial debt instrument of 250 million euros (ME), which will allow us to simultaneously reduce the debt service and reinforce the competitiveness of the football team", outlined the candidate for list A. Among the five changes made to the current board of six vice-presidents, Pinto da Costa bet on businessman and investor João Rafael Koehler to succeed Fernando Gomes, who had been in the financial administration of SAD since 2014, a position now handed over to José Fernando Figueiredo, an economist and senior consultant at the World Bank. On Monday, in an interview with the television station SIC, André Villas-Boas, former coach of FC Porto's football team and electoral opponent of Pinto da Costa, had accused the club's leader of being a hostage of João Koehler, founder and administrator of the venture capital management company Quadrantis, which also has José Figueiredo as an investor. "I am not a hostage to anyone. There is a candidacy in these elections that insists on spreading lies and insulting FC Porto members and fans. João Koehler has my absolute trust. He has always helped the club, without ever asking for anything in return, but now certain fans affected by other candidacies have decided to defame him and even spread lies about his personal and professional life. We are not entering into this torrent of insults that others have followed. We want a united FC Porto, with everyone", retorted Pinto da Costa. One day after assuring that he already has an agreement to contractually renew with the Portuguese international central defender and Porto captain Pepe and with coach Sérgio Conceição, if he wins the elections, the leader praised the role of the football team's coach. "We believe a lot in the quality and competence of our technical team, it has already given us many victories and guided us to several conquests. Sérgio Conceição was, is and will continue to be a fundamental part of our project and, as long as he wants, he will have a place in his heart club", he stressed, at a time when the former striker has been training FC Porto for almost seven entire seasons, since 2017/18, and is the record holder for victories, games and trophies at the club. Attentive to the dynamics of a transfer market "increasingly aggressive and volatile", Pinto da Costa guarantees that there is a "well-defined strategy" to identify "promising talents" inside and outside the country, "as has happened several times in recent years". "They have to be athletes who fit the technical and tactical profile required. At FC Porto, it is not enough to play well, you have to live our winning culture and feel the mystique", he warned. Questioned about the launch of a senior women's football team, the president assumes that he is in dialogue with "two I League clubs that have already shown interest in establishing a connection" to the 'dragons', asking for a "considered and conscious decision". The elections for the social bodies of FC Porto for the four-year period 2024-2028 are disputed by three candidates, led by Pinto da Costa (list A), André Villas-Boas (B), former coach of the football team, and Nuno Lobo (C), businessman and teacher, also including an independent list for the Superior Council led by Miguel Brás da Cunha (D). The electoral act will take place on Saturday, between 9:00 am and 8:00 pm, at the Estádio do Dragão, in Porto, at a time when Pinto da Costa is serving his 15th consecutive term, since 1982, and holds the status of leader with the most titles and longevity in world football.
 

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