Sporting approves €150m bond authority and board pay rise
Sporting shareholders have authorised up to €150m in bond issues and approved higher board salaries after the club’s football company recorded its fifth consecutive annual profit.
Sporting’s football company has secured shareholder approval to raise up to €150m through bond issues, giving its board scope to arrange new funding and refinance existing debt over the next five years.The authorisation was approved alongside an increase in directors’ fixed remuneration and annual accounts showing a €34.7m profit for 2025/26 at a shareholder meeting at Estádio José Alvalade.General meeting chairman Bernardo Ayala said: “The meeting went extremely well, with many contributions from well-informed shareholders. All proposals were approved by an overwhelming majority, with considerable freedom of expression and input from all shareholders.”The borrowing authority allows Sporting SAD to issue one or more bonds until October 26, 2031, with individual maturities of up to 10 years.It also permits exchange offers involving existing bonds due to mature in 2027 and 2028, giving the company flexibility to manage repayments as well as seek fresh capital.The vote makes that financing available to the board rather than launching an immediate €150m borrowing operation, with interest rates, offer periods and repayment dates to be determined for each issue.Shareholders also backed an increase of approximately 19% in fixed board remuneration, taking president Frederico Varandas’s annual basic salary from €300,000 to €354,000 for 2026/27.Varandas received approximately €776,000 in gross remuneration for the previous financial year, including performance-related payments linked to Sporting’s sporting and financial results.Those payments accounted for the majority of his package, illustrating the distinction between the fixed salary now being increased and his total annual earnings.The remuneration decisions accompanied approval of the company’s fifth successive profitable financial year, with Sporting’s run to the UEFA Champions League quarter-finals contributing substantially to its income.Varandas told shareholders that the European campaign generated €80m for the SAD, providing financial context for a season in which the company again finished in profit.The meeting brought together 33 registered shareholders and approved all 12 agenda items, including appointments to the company’s governing bodies for the 2026–30 term.Sporting’s member association retains a majority of the SAD’s share capital and supported the proposals, ensuring the backing of the company’s controlling shareholder.The resulting mandate gives the board several options for managing its funding requirements, including inviting existing bondholders to exchange their investments rather than relying solely on new subscriptions.Any issues will remain subject to the €150m combined limit, with the board responsible for setting the commercial terms within the authority granted by shareholders.