Oviedo offering out shares

Fallen La Liga side Real Oviedo are issuing out shares in the club in an attempt to raise funds to fight the threat of administration.

The Asturian outfit, who were founded in 1926 and can list 38 years in the Spanish top flight in their history, have endured a tough decade on an off the pitch, and are currently battling in Segunda Division B and against sharp economic difficulty.

The latest struggles see the side on the brink of administration and, as per a statement published on their official website late this week, are in need of €2m in the coming days in order to stave off the threat of entering administration.

Oviedo, who stress that this move is necessary to keep them afloat, are offering fans the opportunity from November 3 to 17 to purchase shares in the club at a cost of €10.75 per share via wire transfer or PayPal.

Chelsea’s Juan Mata, Arsenal’s Santi Cazorla and Swansea’s Michu are all products of the club’s youth academy.

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