The Levante UD Board of Directors approves José Danvila's proposal

The CEO, José Danvila, informed the Levante UD Board of Directors at its meeting yesterday, Monday 8th January, of his intention to give complete economic stability to the club with the injection of a total of 23 million euros.

The club has waited until now to make public José Danvila’s agreements and proposals, out of deference to the “Cent Anys” Foundation so that they would be aware of all the details before anyone else.

José Danvila has announced his intention to directly inject a further 6 million euros into the club to deal with short-term debts, and he is in very advanced negotiations with Bravo Capital to take on the debt which currently amounts to 7 million euros. Added to the 10 million euros already lent to the club, this would make a total of 23 million euros.

Investments in detail

Of the participatory loan of 10 million euros that were entered into the club's accounts on 18th October, a total of 6 million would become a capital increase for credit compensation, because in this way it would only amount to approximately 35% of the shares, and leaves the door open for the Foundation to decide if they would like to add other partners who want to join the club’s expansion project.

In negotiation with Bravo Capital

Moreover, the Valencian businessman José Danvila is in negotiation with Bravo Capital for them to be able to buy the debt that amounts to 7 million euros and thus lighten the club's coffers for at least the next 2 or 3 years. In this way, as José Danvila explained to the Board of Directors, the club will have a sum of 23 million euros which will provide greater economic stability to the club in facing the important challenges it has set for itself.