Real Oviedo is writing to inform season-ticket holders and shareholders of the decision taken by the club following an in-depth internal study, now in the knowledge of the details and the consequences of the project for the present and future of our Club.
'Boost LaLiga' was approved by 38 of the 42 clubs which form LaLiga, with Real Oviedo voting against it. Our initial rejection of the project was based on the doubts that the operation left us with and which we explained at that time. We felt it was rushed, both in terms of the structure and the share of the money. The criteria adopted by LaLiga when defining the operation did not take the specific weight of historic clubs such as Real Oviedo into account. While it is clear that it is difficult to set objective guidelines for sharing money which would satisfy the interests of all affiliated clubs, there was no consideration given to our having played more than 35 years in the First Division, nor the impact of us having thousands of season-ticket holders and shareholders. For these reasons, it was necessary for us to request LaLiga for extra information. Having received the required information and studied it in depth, the club has decided to join the project, for the reasons which we explain below:
The proposed share of the money would see all affiliated clubs receive, immediately, an economic injection which will allow them to increase the cost of their footballing squad. This increase is vital for Real Oviedo if it wishes to fulfill its footballing strategy and give the club a more competitive team, which would allow us to get better results, which is something which we all want to do. It is a financial injection which would be impossible to achieve during this financial year through the club's primary sources of income (sponsorships, season tickets, share campaigns). These sources of revenue are also conditioned by LaLiga's rules for financial control, which our club never fails to meet.
Joining the project reflects Real Oviedo's commitment to strengthening the growth of our club in particular, and that of Spanish football as a whole, with the resulting increase in overall value. This operation offers us the possibility of receiving a larger share in terms of social integration, which will allow us to more than meet the commitments that implies.
The possibility of using increased financial income for specific parts of the club will see a significant boost in our facilities, our academy, our customer service, digitalisation, etc. It will also see a boost to the brand, an increase in profits, and help our overall footballing project. In addition, Real Oviedo joining this project implies true recognition of our club's real value. It more than justifies the price of shares up to this point, and generates a greater intrinsic value for our shares, which goes far beyond that reflected in account books. This is due to the undoubtable increase in value of all clubs under the valuation carried out by LaLiga and CVC when executing this operation.
Real Oviedo is now available to join the project, and with the backing of its majority shareholder, believes that it should not remain on the sidelines of the operation.