3 million euros. This is what Intercity needs to avoid their dissolution before the summer. The first club to take the path of the stock market is going through one of the worst financial phases in its short history, which could lead to its extinction.

June 30 is the deadline set by the calendar to find this amount after an extraordinary audit is conducted to evaluate Intercity accounts. As can be seen from the financial statements, the net worth of the company is five million euros, “which is one of the reasons for the breakup prescribed by commercial law,” reads a document recently issued by a company that verified the team’s accounts.

Intercity is waiting for the arrival of the new capital, according to the audit, a maneuver that would allow to abandon the dissolution case and put an end to the serious economic situation. The audit explains that the board of directors has prepared a treasury plan for the next 12 months and 5 million euros are required to achieve viability. Two of them will be covered by the financing operation with Alpha Blue OceanTherefore, the organization is urgently looking for the three million euros mentioned earlier.

“The goal is to resolve the equity imbalance situation that the company is currently presenting, as well as to obtain the necessary financial resources to develop its activities over the next 12 months.”

Various sources consulted by this newspaper explain that negotiations are underway with various investors. “Closing the agreements will help address the capital imbalance and cover the financial needs of the current and next sports season.”

However, the audit requested more information on the economic viability of Intercity in order to have a much more accurate picture of reality, as the club needs three million euros to move forward in the current situation.

The club, which, in addition to the famous shareholders Juanafran Torres, is run by businessmen Salvador Martí and Javier Mira, also founders of a face recognition company (FacePhi). Currently, the shareholder mass consists of approximately 1,100 shareholders, almost all of whom are minority shareholders. Among its owners are former Atlético de Madrid player Juanfran Torres.

In sports, the club is also experiencing not the best moments. Despite a more than acceptable Copa del Rey in which they faced Barcelona and came close to eliminating the Catalan team, their career in the First RFEF did not work out. He is now in fourteenth place, and throughout the campaign he did not have a chance to rise to the top positions to storm the second division of our football.

stock market problems

The difficult financial situation did not go unnoticed by investors, and Intercity shares have already lost value this year. In particular, its titles have fallen by 63% and are worth 16 euro cents. And that the duel with Barcelona forced them to revalue up to 35% in just a few sessions.

Over the past month and a half, Intercity’s market capitalization has fallen by 38%, and, according to financial sources, this is due to “lack of immediate viability.” The same informants insist that “an economic injection could turn the tide on the floor.” Since the all-time high, the club’s shares have lost more than 90% of their value.