Abanca doubles down on Deportivo with €30m investment plan
Deportivo La Coruña's majority owner proposes massive capital injection to fuel promotion ambitions, following last summer's €70m debt write-off.
Deportivo La Coruña’s financial backing continues to strengthen as the club pushes for a return to Spain’s footballing elite.
Fresh millions for promotion push
The Galician club has announced an extraordinary shareholders meeting on February 5th, where a €30.125 million capital increase will be proposed. This massive cash injection would create nearly 54 million new shares, signaling serious ambition from the ownership.
While technically open to all shareholders, the reality is that banking giant Abanca – who control a whopping 99.7% of the club – will shoulder most of this investment. The bank has clearly decided Depor’s promotion push needs proper financial muscle behind it.
Building on previous financial support
This latest move follows Abanca’s enormous financial restructuring of the club last summer, which included:
- Writing off a staggering €70 million of debt owed to the bank
- Providing an additional €35 million capital injection
The combined effect of these financial maneuvers has been transformative, giving Deportivo breathing room after years of financial struggles.
What it means for Depor
For a club that once challenged at the top of Spanish football – even reaching the Champions League semi-finals in 2004 – these investments represent more than just numbers on a balance sheet. They’re a proper statement of intent, ain’t they?
The additional funds will likely strengthen the squad and infrastructure as Deportivo continues its quest to climb back up the Spanish football pyramid. For supporters who’ve endured the club’s fall from grace, seeing this level of financial commitment must feel like finding a pony in their stocking.
With Segunda División football secured last season after promotion, Abanca clearly believes the club can continue its upward trajectory with the right financial backing.