Boavista: Creditors’ Committee decides to close the club; club blames the SAD (Sporting Limited Company).

The Creditors’ Committee of Boavista Futebol Clube voted to close the club, a decision communicated last Monday by the Insolvency Administrator to the Porto District Court. The club is “surprised” by the decision and will file “a request to prevent a decision that, while reversible, would nevertheless produce immediate and profoundly damaging effects for the club, its players, and Portuguese sport.”

In the request submitted by the Insolvency Administrator, which Maisfutebol had access to, it is explained that “the operation of the Insolvent’s (Boavista) Establishment was showing signs of worsening, due to the inability to secure the expected revenues, specifically, the remuneration from the ‘Protocol’ with BFC SAD, the rents from the seized surface rights, those derived from the investor, among others,” in addition to the fact that “expenses are ongoing, which was leading t

The scenario described led to a vote by the Creditors’ Committee regarding whether to keep Boavista Futebol Clube in operation or close it down.

Those voting in favor of closure included a member of the Tax and Customs Authority and the company Sacyr Somague, SA, while Joaquim Pires argued for maintaining the club’s activity.

Maisfutebol sought a reaction from the president of Boavista Futebol Clube, Rui Garrido Pereira, who was unavailable to provide clarification by the time this news was published.

However, the Porto club issued a statement explaining that “Boavista SAD’s failure to comply with the Protocol is the root cause of the club’s insolvency,” and therefore it will request “the urgent intervention of the Court to determine full compliance with the Protocol by the SAD or, alternatively, the release of the club’s facilities, given its insolvency status.”

“In this regard, negotiations are ongoing at various levels, with several entities, with the aim of enabling the financial and sporting recovery of Boavista FC,” added the club ‘s officials .

Ensuring that “the eventual ‘closure of the Establishment’ does not determine the end of Boavista Futebol Clube as an institution, but would imply serious consequences,” the club also argues that “the management model applied to the liquidation of commercial companies is not directly applicable to sports clubs,” since “clubs perform a broad social function, the interruption of which is not limited to accounting impacts, but affects entire communities.”

Boavista is going through a delicate moment in its history, both financially and in terms of sporting performance, with the professional football team, under the umbrella of the SAD (Sociedade Anónima Desportiva – Sports Limited Company), having fallen directly from the Liga ( First Division) to the district leagues last summer. Furthermore, the club, which also decided to register a team with the AF Porto (Porto Football Association), was forced to withdraw from participating in the lowest division of that association due to an inability to register players.