Recreativo de Huelva – the oldest club in Spain – will be bought for €1 after the Huelva city council cleared the club’s debt.
Spanish press agency EFE reports that company Eurosamop have struck a deal with the Huelva council to buy all of El Decano’s shares for just €1.
The nation’s oldest club celebrated their 128th birthday in December but have faced mounting financial problems over recent years, threatening the club with extinction.
Recre now find themselves languishing in Spain’s regionalised third tier but their €7.6m debts have now been paid off by the city, along with other debts to electrical company Endesa.
Image via www.recreativohuelva.com
