Huelva City Council and Eurosamop reach agreement to sell Recreativo shares for one euro

The company Eurosamop has a contract agreement with the Huelva City Council to purchase all the shares of Recreativo for one euro once the entity is debt-free, according to a document from the Treasury accessed by Efe.

This document states that the ultimate purpose of the contract between these two parties is the "acquisition of all the shares of the indebted entity for the price of one euro," with this sale being conditioned on the City Council paying off all the debts of the club beforehand.

Therefore, after the payment of the club's debts by the City Council, which has already paid 7.6 million to the Treasury, Eurosamop could acquire the shares owned by the City Council, 75 percent directly and another 23 percent held by the Municipal Company Huelva Deporte SL, for only one euro.

The agreement on the transfer of tax liability acknowledges the joint responsibility of the City Council to pay off the club's debts with the Treasury and mentions the aforementioned contract between the council, Eurosamop, and the company Dogma Abogados y Economistas SL, the latter being the sole administrator of Eurosamop.

In this document, the Treasury also indicates that the Huelva City Council has paid the invoices with Endesa that the blue-and-white club had, although it does not specify the amount of these invoices.