The global pandemic caused by COVID-19 has caused a historic crisis in the sports industry the world over, yet Spain is one of the countries that has felt the impact of it most, and clubs both in football and basketball are being forced to look at their fiscal options moving forward.
Clubs in Spain are looking to explore new revenue streams as we move into the second half of 2021, primarily to make up for lost income and secondly to ensure that should such a crisis ever hit again, they will be more prepared.
As such, they are turning to the stock market, as was revealed by Unidad Editorial on Friday morning, and Intercity will become the first club in the history of Spanish football to go public with the help of the company Fellow Funders.
Founded in 2017, the team competes in the third division after several promotions, and their goal is to eventually earn promotion to LaLiga Santander.
“We have seen interest in other clubs, right now we are working with three more football teams and two basketball teams,” explained Mariano Colmenar, head of the capital markets division at Fellow Funders.
The company has been set up to support small businesses and start-ups in their expansion and consolidation plans through the search for an optimal financing model.