The shareholders support the accounts and management of Levante UD by 99%.

Levante Unión Deportiva SAD held its General Shareholders' Meeting today, February 10, 2026. The meeting took place at 6:00 PM in the Fenollosa Room at the Ciutat de València Stadium. A total of 392,184 shares and 43 shareholders out of 446 shareholders were present or duly represented. 

Before the Shareholders' Meeting began, a respectful minute of silence was observed in memory of those who are no longer with us, especially the shareholders and Levante supporters who passed away over the past year. 

In line with the new management guidelines, the club presented its Annual Report for the 2024/2025 season, which is now available for full consultation and download at this link. The report includes all the activities, proposals, and actions that the club has developed, organized, and celebrated throughout the past season. It is structured across various areas, from Communication to Business Development, including Heritage and the "Cent Anys" Foundation of Levante UD. 

Pablo Sánchez presents the management report 

Before addressing the items on the agenda, the president of Levante UD, Pablo Sánchez, presented the 2024/2025 Management Report. President Pablo Sánchez described the 24/25 season as a period of "enormous responsibility" marked by managing a limited revenue scenario in the Second Division and the success of promotion. Despite closing with a final loss of 14.10 million euros (after recognizing 4.39 million in tax assets), the president emphasized that this result reflects the real cost of maintaining the club's sports level and structure without weakening the project. With total assets of 90.12 million euros, including over 60 million in the stadium and infrastructure, the entity relies on its asset base to begin a phase of recovery and stability.

The roadmap has been guided by four non-negotiable principles, starting with the responsibility of choosing real and structural sanitation over quick fixes, and absolute transparency in management. This second pillar allowed for a thorough diagnosis that identified 16 million euros in losses not properly reflected in previous years (of which 12 million are uncovered debt). "Far from hiding this discrepancy, the club decided to explain it clearly and address it through the Restructuring Plan, tackling the situation with the rigor demanded by the shareholders," said Pablo Sánchez.

The third pillar is real commitment, "personified in the figure of José Danvila, whose direct involvement has been decisive in a challenging context. His contribution of 13.8 million euros to strengthen the assets, combined with guarantees and investments, has been key to financially stabilizing the entity and removing it from any risk of dissolution." This effort, along with the negotiation process with creditors — supported by more than 83% of the affected liabilities — has enabled the construction of structural and lasting solutions for the future of Levante UD.

Finally, rigor and good management are embodied in a Restructuring Plan that aligns debt commitments with the club's real cash generation capacity. Thanks to this framework and the return to the First Division, the club expects to achieve a profit close to 18 million euros in the 2025/26 season. This scenario of greater predictability will allow the club to undertake strategic projects such as the Sports City, the stadium's buildability, and the sustainability of Levante Femenino, always under prudent management that protects the club's identity and assets.

First item on the agenda: review and approval, if applicable, of the Annual Accounts (Balance Sheet, Profit and Loss Accounts, and Report). Management Report and Audit Report and Proposal for the Application of Results of "Levante, U.D., Sociedad Anónima Deportiva" and "Levante, U.D., Sociedad Anónima Deportiva and dependent companies" (the document can be downloaded by clicking on the links), all corresponding to the financial year 2024/2025.

As he already did in front of the media, the financial director of Levante UD, Carlos Ausell, has explained the annual accounts point by point. The financial director, Carlos Ausell, has detailed the thorough financial restructuring that has allowed the club to operate under a framework of legal security thanks to the judicial approval of the Payment Restructuring Plan (PRP). This process included a meticulous diagnosis that revealed 16 million euros in debts and contingencies from previous years that were not recorded, which caused a nominal increase in liabilities of 20 million. Despite this impact, Ausell emphasized that the entity prioritized protecting its sports assets instead of selling players to artificially balance the accounts, also managing to strengthen net assets through the capitalization of 13.8 million euros contributed by Bizas Trading Capital SL.

Looking ahead to the immediate future, management relies on the increase in the market value of the squad, following an investment of over 5 million euros over the last two seasons, which represents a key intangible asset not fully reflected in the accounting books. Ausell confirmed that, as of today, Levante UD is not at risk of dissolution and is meeting its essential obligations to employees and administrations as normal. This balance will be further strengthened by the capital increase proposed at the General Meeting, which offers shareholders the opportunity to contribute up to 8 million euros in direct cash to accelerate the achievement of the club's financial objectives.

After being put to a vote, the results were as follows:

The approval of the Annual Accounts received a ‘yes’ from 392,162 shares, representing 99.2%, while 745 voted against and there were 358 abstentions. Therefore, it has been approved.

Second.- Examination and approval, if applicable, of the management of the Administrators corresponding to the financial year 2024/2025.

The approval of the management of the administrators has received a 'yes' from 392,127 shares, which represents 99.7%, while it has not been approved by 1,050 and there have been 63 abstentions. Therefore, it has been approved.

Third.- Examination and approval, if applicable, of the Budget of Income and Expenses for the financial year 2025/2026.

The financial director Carlos Ausell has explained point by point all the details of the Budget and has indicated that the prospects for the 2025/2026 season foresee a substantial improvement with a profit forecast of 18 million euros. This result will be the result of increased income (from television, subscriptions, commercial...) combined with strict adherence to LALIGA's Financial Fair Play. Added to this is the reduction of structural costs derived from the restructuring of operating and personnel expenses.

The approval of the Budget has received a 'yes' from 393,063 shares, while it has not been approved by 139 and there have been 63 abstentions. Therefore, the Budget has been approved.

At this point in the Board meeting, the CEO, José Danvila, began his speech by thanking the shareholders for their presence, describing it as a "sign of commitment to an entity that is everyone's heritage". During his update on the club's situation, he revealed that at the start of the current season, the Fair Play margin was "extremely limited", with approximately 11 million euros, which the renewals after the promotion practically consumed in their entirety. As he explained, the required capitalization allowed that Fair Play to increase to 23 million euros, providing "a much more solid framework to operate".

Regarding the roadmap of the Board of Directors, Danvila outlined two strategic objectives: achieving permanence and "generating sporting and economic value". The CEO detailed that they are seeking a squad capable of producing capital gains to "continue reducing debt and strengthening the Club's financial well-being", a path they have pursued since taking on the responsibility of leading Levante UD. This vision is committed to a project that not only competes but grows with a clear structure and a focus on homegrown talent.

In the sports section, he addressed the change of coach, thanking Julián Calero for bringing the club back to the elite. Danvila defended that the wait after his departure was not improvisation but "serenity in decision-making". He highlighted the work of Vicente Iborra and Álvaro Del Moral during the transition and was adamant in stating that: "if the right figure had not appeared, rest assured that we would have bet on the homegrown people", referring to those who know the entity and have delivered results when most needed.

To conclude, he linked the arrival of Luis Castro with the vision of strengthening the Academy as "a sporting axis and also a source of economic stability". Danvila insisted that the club is working to unlock the Restructuring Plan and advance projects such as the Sports City. Additionally, he announced that the club has renewed the agreement with the "Cent Anys" Foundation for another 10 years.

He concluded his speech by emphasizing that Levante UD has a direction and a roadmap with elements that "cannot be bought or improvised: identity, youth academy, and a fanbase that always responds", urging everyone to build a stronger club that remains true to its essence.

After concluding the Ordinary Shareholders' Meeting, the Extraordinary Shareholders' Meeting of Levante UD SAD was held.

The first item on the agenda is the increase in the company's share capital by an amount of 199,952.70 euros, up to the amount of 26,838,556.50 euros, through debt compensation, by issuing and circulating 3,327 new registered ordinary shares, consecutively numbered from 443,239 to 446,565, both inclusive, of the same class and series as those currently in circulation, with a nominal value of 60.10 euros each, without share premium; without pre-emptive rights, in accordance with Article 304 of the Capital Companies Act; and the consequent statutory amendment of Article 5 of the Articles of Association.

When the meeting was convened, the following documents were provided: report of the management body on the capital increase through debt compensation (click here to open the document) and report of the Company's auditor (click here to open the document).

The approval of the share capital increase received a 'yes' from 392,067 shares, which represents 99.81%, while it was not approved by 635 and there were 100 abstentions, including those of the president himself, Pablo Sánchez, logically. Therefore, this item was approved.

The second item on the agenda is the increase in the company's share capital by an amount of 8,251,309.30 euros, up to the amount of 35,089,865.80 euros, through monetary contributions, by issuing and circulating 137,293 new registered ordinary shares, consecutively numbered from 446,566 to 583,858, both inclusive, of the same class and series as those currently in circulation, with a nominal value of 60.10 euros each, without share premium, and with pre-emptive subscription rights, in accordance with the provisions of Article 304 of the Capital Companies Act, with the consequent amendment of Article 5 of the Articles of Association. This capital increase is offered in a single phase to all current shareholders of the Company, with the exception of Bizas Capital, S.L.

The item includes that during the corresponding subscription period, each shareholder entitled to participate may subscribe and acquire a number of new shares exactly equal to the number of shares they already hold, in a one-to-one ratio (1 x 1). In accordance with the provisions of Article 311 of the Capital Companies Act, the possibility of partial subscription of the capital increase is expressly foreseen, so that if it is not fully subscribed, the amount of the increase will be limited to the nominal value of the shares effectively subscribed and paid for within the corresponding subscription period, with the remainder being null and void.

The approval of this second item on the agenda of the Extraordinary Meeting received a 'yes' from 392,548 shares, which represents 99.84%, while it was not approved by 547 and there were 87 abstentions. Therefore, it was approved.

The third item on the agenda was the examination and approval, if applicable, of a reinforced protection regime for the main distinctive signs and identity of the Club, as well as the territorial roots of the Company, including the prohibition of agreeing to change the corporate colors, the official shield or emblem, the name of the men's professional football team section, or the official anthem of the Club. Consequent amendment of Article 9.4 of the Articles of Association.

The vote on this item received a 'yes' from 393,047 shares, while it was not approved by 10 and there were 25 abstentions. Therefore, the item was approved.