Portuguese sports club Portimonense may be very close to changing hands, with advanced negotiations taking place between the current investor, Constantin Panagopoulos, and the Chinese group Suning Holdings Group Co., Ltd, founded by businessman Zhang Jindong.
According to the Portuguese press, the deal is expected to be completed in 2025 for a value of EUR 80 million and will include the sports complex of the racetrack that serves as the training ground for the under-23 team.
The agreement foresees the gradual transfer of the current management for a period of 12 months, with the transition being ensured by Edgar Vilaça, the SAD’s current financial director.
Portimonense Sporting Clube is based in Portimão, southern Portugal. Founded on 14 August 1914, it is most notable for its professional football team, which currently plays in the Primeira Liga, the top flight of Portuguese football.
Located in Algarve’s second largest city, its stadium, the Estádio Municipal de Portimão, has a capacity of 9,544 spectators after undergoing renovation in early 2011. The club has never won any major trophies, but it participated in the Primeira Liga for several seasons.
It also fields various youth teams and a veterans team in football, as well as teams in basketball.
Portimonense’s zenith was in the 1980s, a decade in which the club only played its football in the top division, also competing in the UEFA Cup in 1985–86. They have reached the semifinals of the Taça de Portugal three times, in 1983, 1987 and 1988.
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