Lions communicate business contours
Minutes after the officialization of Ruben Amorim’s transfer to Manchester UnitedSporting communicated to the Securities Market Commission (CMVM) the contours of the deal with the Red Devils.
SAD Leonina reported that it will receive 11 million euros for the deal, confirming the value advanced by More football.
In the same note it is said that Sporting’s SAD saves 1.658 million euros in relation to the «extinction of credit rights, recorded with liabilities and contingent liabilities, as a result of the revocation and renegotiation of contracts referring to intermediation commissions».
FULL RELEASE:
«SPORTING CLUBE DE PORTUGAL – FUTEBOL, SAD (hereinafter also referred to as Sporting SAD), under the terms and for the purposes of complying with the information obligation arising from the provisions of article 17 of Regulation (EU) no. 596/2014, of the European Parliament and the Council of April 16th, following the statement released to the market on October 29th, 2024, informs the following:
Sporting SAD has reached an agreement with Manchester United FC (hereinafter MUFC) regarding the terms and conditions of the departure of coach Rúben Amorim, in return for which MUFC will pay Sporting SAD Euro 11,000,000.
In addition, Sporting SAD will have a benefit of Euro 1,658,000, relating to the extinction of credit rights, recorded as liabilities and contingent liabilities, as a result of the revocation and renegotiation of contracts referring to intermediation fees.»
