Today the club officially announced that the elections for Sporting CP will take place March 5, 2022. Making a new thread for this discussion, any news about elections should go here. So far, only one officially announced candidate exists in Nuno Sousa. But it is expected that Frederico Varandas will go for re-election, and a 3rd candidate named Ricardo Oliveira is expected to run as well.
Frederico Varandas confirms today on CNN Portugal that he will run for re-elections. Worst kept secret in the world.
Not much posted here, but elections are tomorrow for the next president of the club. Frederico Varandas is running for re-election and is considered the favourite, as well as two other candidates in Nuno Sousa and Ricardo Oliveira. Varandas decided not to campaign and only had 1 debate with the other 2 candidates on Sporting TV. Today the club and its president announced they were executing the buyback of the VMOCs (Mandatory Convertible Securities), a hot topic of the debate and among sócios. Not a financial expert here by any means, but in short, after this operation the club now holds close to 84% of shares of the club (up from 62%). Clearly to announce this now is a political move to guarantee re-election for the sitting board, but the re-purchase of VMOCs is good news overall for the club's future. Only concern was that we anticipated more of the revenue from the massive 10 year TV deal with NOS to do this, around 38.5 million euros. Not sure how much we've anticipated but it has to be well more than half of that money has been anticipated via a process known as 'factoring'.
Frederico Varandas re-elected today to a 2nd term after winning 85.8% of the vote. Nuno Sousa garnered 7.3% and Ricardo Oliveira 2.8%. 14,795 socios voted. Not sure how some people on social media believed he had a chance of losing, especially after winning a title.