FC Porto: 30% of revenues generated by the Estádio do Dragão sold to Ithaka for 25 years for €65m

FC Porto (Liga Portugal Betclic) will sell 30% of the revenue generated from the operation of the Estádio do Dragão (Porto, POR) to the Spanish company Ithaka for €65m from the 2024-25 season for a period of 25 years, announced the club on 18/04/2024. Ithaka Investments Europe is an investment company based in Madrid (ESP), specialised in the sports and entertainment infrastructure sector.

Specifically, Ithaka will receive 30% of the revenue generated by the company that FC Porto will set up to manage its stadium. These revenues will be generated by hospitality, sponsorship, ticketing, naming rights, the club museum, visits to the stadium and events organised there. The partnership will come into effect "subject to compliance with the usual market conditions, namely the completion by Ithaka of the long-term financing of its investment and the incorporation of the new FC Porto Group company."

Of the €65m received by FC Porto under this agreement, €30m will be "entirely reinvested in the Estádio do Dragão in the first years of the agreement, with the remainder dedicated to improving…