Prešov City Council approves sale of FC Tatran Prešov stake

The Prešov City Council has approved the sale of a 94.78 percent stake in the football club FC Tatran Prešov to the entity Tatran rescue capital. The sale of 109 shares is valued at 1.4 million euros.

The proceeds from the sale are designated to be invested into the club's capital fund specifically to settle outstanding debts and facilitate the financial recovery of the organization. Following the successful completion of the debt clearance, the city maintains the right to request the repurchase of the shares.

In addition to the sale, council members approved conditions allowing FC Tatran Prešov to issue bonds worth up to two million euros with a maximum maturity of two years. These bonds are intended to provide cheaper financing for the early repayment of liabilities during the city's eventual repurchase of the club's shares.