FC Penafiel, a historic Portuguese football club founded in 1951, has recently undergone a significant change in ownership. Juan Carlos Escotet, president of Deportivo de La Coruña and owner of Abanca, has acquired a 90% stake in the club through Iberian Football Venture SGPS, S.A., a company owned by his family. The acquisition, valued at approximately €12 million, aims to strengthen the club’s position in Portugal’s second division and foster the development of young talent.
The new ownership structure is designed to create a sustainable and competitive environment for FC Penafiel. By integrating resources and expertise from Deportivo de La Coruña, the club intends to enhance its youth development programs and provide a platform for emerging players to showcase their skills in a competitive league. This strategic move is expected to benefit both clubs, facilitating player exchanges and collaborative initiatives that promote the growth of football in the Iberian Peninsula.
FC Penafiel has a longstanding tradition of nurturing young talent. The club’s youth academy has produced notable players who have progressed to higher levels of competition. The recent investment is set to bolster these efforts, ensuring that the club remains a pivotal institution in the development of Portuguese football.
The acquisition also underscores the growing trend of cross–border ownership in European football, where clubs seek to leverage shared resources and expertise to achieve mutual success. By focusing on youth development and competitive performance, FC Penafiel aims to establish itself as a leading force in Portugal’s second division, contributing to the overall elevation of the country‘s football standards.
As FC Penafiel embarks on this new chapter, the club’s commitment to fostering young talent and achieving sporting excellence remains steadfast. The collaboration with Deportivo de La Coruña is poised to bring about a new era of growth and success for the club, its players, and its supporters.
Leave a comment