The president of Students from La Plata, Juan Sebastian Veronwill take a momentous step in the history of the club by signing a pre-agreement with the American businessman Foster Gillett which will allow the club to receive a initial investment of around US$150 million, generating a mixed company.
At the UNO stadium, Verón will lay the foundations for the aforementioned partnership and this project not only promises to strengthen the club but could also open the door for a new era of private investments in Argentine football, in the midst of the disputes that exist between the AFA and the National Government on the implementation of Sports Joint Stock Companies (SAD) in the country.
The pre-agreement that will be signed by Gillett (represented in Argentina by businessman Guillermo Tofoni), establishes a permanent reinvestment commitment for more than 15 years.
In the coming months, lawyers and accountants from both parties will refine the details to submit the final contract for the approval of the partners at an Extraordinary Assembly scheduled for December.
Verón emphasized that Estudiantes will continue to be a civil association and that the partners will have the final say on this innovative investment project.
The framework of this agreement will be that of a mixed company, in which the club’s assets will not be at risk, since, with the endorsement of the partners, Estudiantes would become the first club to open itself to external investment under this model. , which aroused the interest of the National Government led by Javier Milei and generated an ideological debate with the AFA.
Verón defended this alliance as an opportunity to enhance the development of the club without losing its identity or control of its assets.
Gillett’s investment would cover both professional football and the lower divisions and other disciplines. In terms of infrastructure, it is planned to roof the UNO stadium, build new fields at the City Bell Country Club and build a modern training center that will include micro stadiums for various activities.
This ambitious plan aims to turn Estudiantes into one of the three most important clubs in the country, an objective that Verón reaffirmed at the last ordinary members’ meeting.
This agreement symbolizes for Estudiantes and Verón the beginning of a transformative stage for the La Plata club and Argentine soccer, setting a precedent for how civil associations can be modernized and strengthened with the support of private capital.
Source: Ambito
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