Venice, raised over 2 million in 10 days from the bond: goal of 5 million
The bond launched by Venice, now open to all public investors, has exceeded 2,000,000 euros raised from over 30 different countries in less than 10 days. This was announced by Tifosy, the investment platform on which the bond loan of the lagoon club was launched.
Through the link, fans, the local community and all interested investors will have the opportunity to participate in financing for the development of the Sports Center, “an orange project central to the future of green society“. The bond will have a minimum value of € 5 million, with the possibility of rising up to € 5.58 million, which is the target that the Venetian company has set for itself.
“The minimum amount that must be raised for the Issuer to issue the Venezia FC Bond is Euro 5,000,000. If the minimum amount is reached by 7 July 2022, possibly extended by up to 30 days in any case within the terms and within the limits set by the board resolution for the issue of the Venezia FC Bond, any amounts that will be received will be returned to investors without interests. If the collected amounts are greater than the minimum amount, the Issuer can issue Venezia FC Bonds up to Euro 5,580,000 in order to satisfy the requests to check, ”the documents read.
In fact, the offer period began on June 6, 2022 and will end on July 7, 2022, closing early in the event of full payment required before the deadline. The bond loan, of the duration of 5 yearswill guarantee a annual interest of 7.50% and a one-off bonus of 15% if the club returns to Serie A by the loan deadline, and therefore by the 2027/28 football season. The minimum investment is One thousand Euro and to go up to multiply by a thousand euros.
The new facilities will allow all members of the club’s family to be hosted in one place: the first men’s team, the first women’s team, the youth sector, the management and staff of Venezia. The investment can achieve the ability to achieve the ability to attract and grow the best talents of all, contributing to the construction of a sustainable future and creating a true sense of belonging to the areas of Venice.
The project cost for the development of the project is expected to be around 10 million euros (7 million euros for phase 1 and 3 million euros for phase 2), which includes land acquisition, construction and all taxes and contingencies. Work on the structure has already begun and, to date, the property has financed all the investments made. The funds raised by the Venezia FC Bond will finance the rest of the planned works.
Venezia investors must be entitled to a series of privileges reserved for bondholders. The privileges are cumulative, and change based on the amount invested. All privileges, with some exceptions, are one-time only. Exceptions include personalized video messages (one per year), the “player experience” training session (two experiences within the term of the bond) and the pre-emption rights on VIP tickets (without).
Speaking of privileges, they range from the jersey (for an investment of € 2,000) to a dinner with the president and a player from the first team (investment of € 20,000). Other investments for intermediate companies include a commemorative plaque with the investor’s name inside the sports center and a “player experience” training session plus a friendly match with the legends team.