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Barakaldo members subscribe a total of 285,000 euros in shares

Barakaldo members have subscribed a total of 285,000 euros in shares / ACUTE BORJA

Barakaldo CF

The manufacturing entity has already made the definitive collection of the two phases and now it only remains for the group of investors to cover the remaining 2,116,200 euros of the share capital

Once the month of May ended, the second phase of subscription of shares in Barakaldo also came to an end. A window so that the 189 partners who had acquired shares in the first, could do so again. The bank headquarters has informed the manufacturing entity this afternoon of the count of this process. 29 of the 189 have returned to participate, contributing another 150,000 euros. Therefore, between the two phases, the social mass has subscribed a total of 285,000 euros. A figure much higher than expected. Jesús María Isusi himself, president of the Manager, points out that “it is a very considerable figure that shows that, despite living through the worst part of our history, it is still seen that the club is alive and people are excited.”

It is a rare occasion for a sports club of these characteristics to have so much social participation by becoming a public limited sports company. The members of Barakaldo have been very involved in this process, subscribing almost twelve percent of a share capital, which amounts to 2,401,200 euros. The double of the initial proposal, since it had to double the net liabilities of the entity, completely broken by the sanction of 1.2 million euros due to non-payments to Social Security. Now, the remaining 2,116,200 of said share capital will be covered by a group of Biscayan investors with whom the club has an agreement, approved by the assembly. That pact is based on the fact that they subscribed a minimum of seventy percent of the share capital – at least 1,680,840 euros – and thus they take control of the power of the club.

This was “the only way” so that a centennial club like Barakaldo would not disappear at such a critical moment, as its leaders repeated on numerous occasions. Now they see the light at the end of the tunnel. Only the third phase is missing to conclude the long process of conversion to SAD. After the group of investors comes into play, there remains the whole bureaucratic issue that “as soon as it will end at the end of this month,” says Jesús María Isusi. They want to finish as soon as possible in order to have some margin to prepare for the next course in the Third RFEF, where Barakaldo aims to be one of the teams with the largest budget and aspire to promotion.

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