FC Porto: amendment to agreement with Ithaka regarding revenues generated by the Estádio do Dragão

FC Porto (Liga Portugal Betclic) and Ithaka Investments Europe, a Madrid-based Spanish investment company specialised in sports and entertainment infrastructure, have signed an amendment to their contract concerning the revenues generated by the Estádio do Dragão (Porto, POR), according the club on 01/08/2024.

The club had announced on 18/04/2024 that it would cede 30% of the revenues linked to the operation of the stadium to Ithaka for a period of 25 years from the 2024-25 season, in exchange for €65m. The revenues concerned are those linked to hospitality, sponsorship, ticketing, naming, the club museum, visits to the stadium and events organised there. However, the agreement was signed just a few days before Jorge Nuno Pinto da Costa, the club's president since 1982, was defeated in FC Porto's presidential elections by André Villas-Boas in April 2024.

The amendment increases "the amount to be received by up to €35m, which could reach €100m if certain EBITDA targets are met in the 2025-26 and 2026-27 financial years. In the immediate future, the amount will increase from €40 to…