CD Castellón receives a loan of ten million euros from its owner

CD Castellón pulls the checkbook. The Castellón team, owned by Haralabos Voulgaris since July 2022, will have a loan of ten million euros to cover the expenses required by the team’s return to professional football.

The credit It will be valid for five years from the moment it is signed and will be convertible participatory., so the entire amount can be converted into shares of the entity. That is why the club should not return the amount received from Voulgaris.

This new operation by Voulgaris joins the one carried out throughout the 2021-2022 season, when it made various capital contributions for a total of 2.5 million euros.

At the Ordinary and Extraordinary General Meeting held by the club on January 23, the budget for the current season, which amounts to 5.6 million euros. In addition, around two million euros in revenue was anticipatedTherefore, the entity plans to close the 2022-2023 campaign in the red of 3.7 million euros.

The board led by Voulgaris estimates that, of the income of two million euros, 675,000 euros correspond to income derived from members and subscribers; 350,000 euros for television rights; 450,000 euros corresponding to marketing and 350,000 euros for advertising.

Likewise, at said meeting, David Reddin, Robin Taylor and Richard Bentley were appointed as new directors of the club, after approving the resignation of Gianmarco Calvo and Matthew Calner.

The Castalia set closed the 2020-2021 season, which ended on June 30, with a turnover of 7.5 million euros and losses of 38,000 euros. Facing the 2021-2022 academic year, the entity planned to increase the red numbers to 1.2 million euros, the result of the relegation to First Rfef. In addition, last year, the club reached an agreement with the Castelló City Council for the renewal of the use and exploitation of the Castalia Municipal Stadium for the next four years.

CD Castellón was founded in 1987 in the city that gives the team its name. It plays its home games at the Nuevo Castalian Stadium, with a capacity for 15,500 spectators and in 1940 it was promoted to the first division, where it maintained the category for six consecutive seasons.

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