"If any candidate who is elected does not want to, they can terminate the contract until July 1. They just have to return the 65 million euros (ME)", acknowledged Pinto da Costa, who is running for a 16th consecutive term in the 'dragons' elections, on April 27.

The top leader of Porto was speaking to the media on the sidelines of a dinner-gathering in Penafiel, one day after SAD communicated to the Securities Market Commission (CMVM) the concretisation of a 25-year agreement with the Spanish company Ithaka.

"We have been working on this contract for a year and a half and we have now closed it. One of the premises is that the 65 ME that they will pay us will only come in June, after the elections and the inauguration of the winner. Therefore, it is not to save our accounts or to solve problems", he assured, about an agreement that has the operational support of the North American company Legends and financial and strategic consulting from Key Capital Partners.

Pinto da Costa described as "a complete nonsense" the criticism made on Thursday by André Villas-Boas, former coach of FC Porto's football team and his electoral opponent, regarding the acceleration of these negotiations nine days before the election.

"How can you criticise something like this? I don't understand. It's the same as criticising an academy. We all had the dream of having a great academy and we will have the one that will be the best in Portugal. Is everything ready and people still criticise? It's outrageous. Candidate André Villas-Boas said that the academy was a utopia and a stream of lies. If he had character, he would have apologised for having offended me publicly", he said, about one of his electoral promises, which will be located in Maia.

FC Porto SAD detailed to CMVM that Ithaka "will be entitled to 30% of the economic rights of a new company (to be incorporated into Grupo FC Porto) over the next 25 years, which will be dedicated to increasing the commercial potential" of Estádio do Dragão.

"Ithaka will invest 65 ME in FC Porto, of which about 30 ME will be fully reinvested in the stadium over the first few years, with the remainder being used to increase FC Porto's competitiveness. After the 25-year period, the club will recover 100% of the economic rights of the stadium", stressed the company, which maintains control and management over the operations of that venue and its full ownership.

The elections of FC Porto's corporate bodies for the four-year period 2024-2028 are disputed by three candidacies, led by the current 'blue and white' president, Pinto da Costa (list A), André Villas-Boas (B) and Nuno Lobo (C), businessman and professor, also including an independent list to the Superior Council led by Miguel Brás da Cunha (D).

The electoral act takes place on April 27, from 9:00 am to 8:00 pm, at Estádio do Dragão, in Porto, at a time when Pinto da Costa is serving his 15th consecutive term, since 1982, holding the status of leader with the most titles and longevity in world football.

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