Belenenses plans APEX-backed football company
Belenenses wants to open its football company to investment platform APEX, a move aimed at funding growth and supporting a return to Portugal’s top league.
Belenenses president Patrick Morais de Carvalho plans to ask club members to approve the entry of investment platform APEX as a minority shareholder in the club’s football business, in a deal intended to strengthen funding and management as the team seeks a return to Portugal’s top division, ECOnews has learned. The proposal would require the current SDUQ structure to be converted into a SAD, Portugal’s corporate vehicle for professional sports operations.
The plan depends on two steps: Morais de Carvalho must first win re-election in the club’s October 24 vote, and the agreement must then be approved by members at a general meeting. Key financial terms have not yet been disclosed, including the amount APEX would invest, the stake it would acquire, the valuation of the future SAD and any governance rights attached to the holding.
According to the proposal, Belenenses would keep majority ownership and control of the sports company. “The majority of the capital will never leave the club’s control,” Morais de Carvalho said. He has said the details of the partnership will be presented before both the election and the members’ vote on the transaction.
APEX is an investment platform focused on sport, media and entertainment, led by Portuguese executive António Caçorino. The firm brings together a network of more than 100 athlete investors and has taken part in investments including the BWT Alpine Formula 1 team, the TGL golf league, Venezia FC and technology platform ScorePlay. Caçorino said APEX wants to bring financial capacity and expertise in business development, revenue growth, asset value creation and management.
The investment is expected to be phased in over several years, although no timetable or minimum funding commitments have been disclosed. Morais de Carvalho has framed the move as part of the club’s rebuilding process since its 2018 split from the SAD that previously ran professional football. Belenenses now plays in Liga 3 and says the aim is to create the financial and structural conditions for the two promotions needed to reach the top flight.
Originally published at Eco.pt