Capital increase and participatory loan. This is the formula that the Zaragoza City Council and the Government of Aragon are going to resort to to make the new La Romareda football field in the capital of Zaragoza.
The agreement reached between both institutions, and which has the support of Real Zaragoza, will entail the subscription of a capital increase in the Nueva Romareda company, through which the new football stadium is promoted, for an amount of 20 million of euros by the Zaragoza town council and others 20 million by the Aragonese Executive. In addition, the operation will also entail a granting 50% of a participatory loan to society for the value of 32 million of euros, whose characteristics have to be specified.
For now, the Government of Zaragoza has already approved this afternoon the budget modifications for award the works of the football field before the end of 2024since with the company’s current liquidity of 95.5 million it is not enough. With this agreement, it is guaranteed the financing of the new stadium project, which is estimated to cost just under 170 million euros. This amount includes the stadium, provisional field and operating costs.
This operation will allow bank financing to be avoided and a interest savings of between 35 and 50 million of euros, which will benefit the institutions participating in the shareholders of Nueva Romareda, as explained by the mayor of Zaragoza, Natalia Chueca, after the extraordinary council held this afternoon.
This budget modification also eliminates any risk of corporate debt being attributed to the administrations, guaranteeing the financial stability of society and institutions.
The budget modification introduces changes in the multiannual budget between 2025 and 2028. This will involve a reduction of contributions to the Smart Sports City by 20 million. In addition, the participatory loan to the Zaragoza Alta Velocity company will be used in 2026, which until now committed 10 million euros each year.
The municipal contributions will be distributed annually in 3.2 million euros in 2024, an amount of which 3.1 million are shares and 100,000 in loans; a total of 9.1 million in 2025 with 3.1 million in participations and 6 million in loans and 21 million in 2026 with 11.1 million in participations and 9.9 million in loans. Furthermore, in 2027, Zaragoza City Council will contribute 11.1 million in shares and 7.1 million in 2028 in shares.
With contributions from the Zaragoza City Council and the Government of Aragon, the social capital of Nueva Romareda SL, which was established in December 2023 with 120 million euros, will stand at 160 million euros. It will also have a participatory loan of 32 million euros.
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