PLANNING AND ORGANIZATION OF RC CELTA
1. RC Celta’s plans and/or anual and/or multiyear programs, as well as average activities and the estimated time of their achievement
On an operational level, the company works with a Strategic Plan focused on three areas of action, which are the following:
- Company capitalisation,
- Strategic investment plans for players and, at present, the construction project for the new sports city, and
- RCCelta brand positioning and globalisation.
Since it is a Sports Limited Company, most of the investments made are spent on the purchase of players, assets for the company, that together with those generated in the “youth academy” itself, which is a reference both within Spain and in Europe, allow to maintain and increase the value of society.
In addition to the players, at the moment, the strategic investment plan of Real Club Celta de Vigo, S.A.D. is focused on three objectives:
- Consolidation of A Sede as a Business Center. More than 7 million euros have been allocated to the purchase and rehabilitation of the building located at Calle del Principe, and the company’s current social and fiscal headquarters, known as A Sede, where different businesses not directly related to the society’s core activity, such as Restaurant, Medical Clinic, Multibrand Store, Event Hall, Gastrobar and Residence for the academy.
- Sports City Project, for which January 18, 2018, an agreement was signed between the Comunidade de Montes Veciñales en Man Común da Parroquia de Pereiras (Mos) and the society by which the bases of the acquisition agreement in the framework of an expropriation procedure in the “Montes de Pereiras” for the development of a sports and commercial complex by Real Club Celta de Vigo, SAD. Furthermore, the transfer of the real right of surface between the Comunidade de Montes Veciñales en Man Común da Parroquia de Pereiras (Mos) and the society, on the property “Montes de Pereiras” with exclusive use of the construction of buildings and facilities is signed whose main and / or auxiliary objective is aimed at the practice of sports activities relative to the corporate purpose.
- Optimisation, as far as possible, of the comfort at the Abanca Balaidos Football Stadium, which is currently being remodelled by the Vigo City Council.
RCCelta is much more than a soccer team, since as a sports corporation, it aspires to achieve sports and business excellence, with social implication through the Celta de Vigo Foundation and with an increasingly global brand and positioning as a result of Afouteza e Corazón’s growth.
Aware of the increasing complexity of the business world in general and of sports and entertainment in particular, we detect the urge to work from a total quality perspective, with an approach, which explains why the society has a certificate of quality management in accordance with ISO 9001 for the Department of Administration, Finance and Human Resources, as well as for the Department of Security and Facilities.
All these challenges and achievements stimulate and motivate us to continue working in the line of constant growth and improvement of the club, under the idea of stability and future growth of the RCCelta project in a solvent manner.
2. Updated organizational chart, identifying the different Departments’ responsible, as well as their functions and interdependencies.
You can find it by clicking on the following link ORGANIZATION
CONTRACTS, AGREEMENTS AND GRANTS
1. Contracts formalized with any public entity or under public control.
RCCelta, as of 30 June 2019, had no contracts with public entities or under public control.
2. Minor contracts formalized with any public entity or under public control.
Currently, RC Celta has no minor contracts with public entities or under public control.
3. Agreements subscribed, as well as signing parties, their object and in its case the economic obligations agreed.
RC Celta has formalized the following contracts with public entities or under public control:
- Administrative concession of the Municipal Facilities corresponding to the Abanca Balaídos Stadium, Barreiro Stadium and the Sports City of A Madroa, subscribed on 30 January 2009 by which the previous facilities are ceded until 16 May 2034.
4. Subsidies and grants received from any public entity or under public control, amount and purpose.
- RCCelta has received a grant from the Xunta de Galicia, in the 2018/2019 season, in the amount of 6,101.68 euros.
- RCCelta has not received subsidies from public entities in the 2017/2018 season.
- RCCelta has received a grant from the General Secretary for Sport, in the 2016/2017 season, in the amount of 5,531.14 euros.
CLUB’S EXECUTIVE BODIES
1. Remuneration received, where applicable, by the members of the Board of Directors.
The members of the Board of Directors do not receive any remuneration whatsoever.
The company has taken out collective accident insurance for members of the Board of Directors throughout the season, with the total amount of the guarantees taken out both in the event of death and absolute disability amounting to 100,000 euros per insured.
In addition, the company has taken out a policy covering the civil liability of Directors and Senior Officers, the annual limit of the insurance being 3,000,000 euros.
The amount of both insurance premiums is not significant.
ECONOMIC AND BUDGETARY INFORMATION
1. Income and expenditure budget approved by the General Shareholders’ Meeting (according to the standard model approved by the LNFP: art. 12 RLFP).
The budgets drawn up by the Board of Directors of the company aim to guarantee the progress in economic terms of the projects that the company has underway in each season, being always positive.
2. Individual and, where appropriate, consolidated financial statements of RC Celta.
Real Club Celta de Vigo, S.A.D. is the parent company of a group of companies formed by:
- The investee company Afouteza e Corazón, S.L.U., which does not carry out sports activities, and
- The special purpose entity Fundación Celta de Vigo, whose main activity is the promotion of grassroots sport from the lower categories of RC Celta.
The Company is exempt from the obligation to consolidate as it only holds stakes in dependent companies that do not have a significant interest, individual or on aggregate, for the true and fair picture of the wealth, financial situation and results of the group companies.
The members of the Board of Directors of the company decide to draw up consolidated financial statements, including Afouteza e Corazón, S.L.U. and Fundación Celta de Vigo within the consolidation perimeter.
3. External Audit Reports on the Annual Account.
The Independent Audit Report of the Annual Accounts as of 30 June 2019 is attached in the previous section together with the annual accounts and the management report.