Amadeo Salvo

Amadeo Salvo Lillo (born 31 March 1967)[1] is a Spanish businessman and football executive. He was the president of Valencia CF from 2013 to 2015, and founded UD Ibiza in 2015.

Amadeo Salvo

Biography

Born in Valencia,[1] Salvo was the founder of Power Electronics, serving as director general from 1990 to 2011 and then as executive vice president.[2]

Salvo was elected president of his hometown's La Liga club Valencia CF in June 2013, while the club was experiencing financial difficulties. He received over 90% of the vote.[3] In May 2014, he supported the takeover of the club by Singapore billionaire Peter Lim.[4] In December, Lim moved Salvo to executive president, while the presidency of the board went to his associate Lay Hoon Chan.[5] Salvo resigned in July 2015, shortly after sporting director Francisco Rufete and several other backroom staff, and Chan took his place. Salvo dismissed allegations that he had a feud with manager Nuno Espírito Santo and Portuguese sports agent Jorge Mendes, a close friend of Lim and alleged influence in the running of the club.[6]

Days after leaving Valencia CF, Salvo founded UD Ibiza, a revival of the UD Ibiza-Eivissa club that folded in 2010. He was able to use the defunct club's identity by settling its debts of over €50,000 with the Balearic Islands and national football federations.[2] Prohibited from promotion out of the regional divisions for two years as a new team,[2] the club reached the Tercera División in 2017 and the Segunda División B a year later, before reaching the Segunda División in May 2021 with a playoff win over UCAM Murcia CF.[7] Weeks before the promotion, the club was converted into a Sociedad Anónima Deportiva (SAD), a form of public limited company obligatory for clubs in the top two divisions of Spanish football; the initial capital was €700,000.[8]

References
  1. Palomo, Rúben J. (22 July 2018). "«Hemos invertido para crear una institución»" ["We have invested in order to create an institution"]. Diario de Ibiza (in Spanish). Retrieved 22 December 2022.
  2. Vidal, Carlos (3 August 2015). "Amadeo Salvo: "El proyecto de la UD Ibiza-Eivissa es pequeño hoy, pero mañana ya veremos"" [Amadeo Salvo: "The UD Ibiza-Eivissa project is small today, but tomorrow we'll see"]. Nou Diari (in Spanish). Retrieved 22 December 2022.
  3. Rogers, Iain (6 June 2013). "Financially troubled Valencia appoint new president". Reuters. Retrieved 22 December 2022.
  4. Hanlon, Tim (17 May 2014). "Singapore businessman Lim buys Valencia". Reuters. Retrieved 22 December 2022.
  5. Valldecabres, Juan Carlos (1 December 2014). "Hoon será presidenta, y Salvo, presidente ejecutivo del Valencia" [Hoon will be the president, and Salvo, executive president of Valencia]. Las Provincias (in Spanish). Retrieved 22 December 2022.
  6. Garcia, Adriana (2 July 2015). "Valencia president Salvo resigns as five members of staff depart". ESPN. Retrieved 22 December 2022.
  7. Sierra del Sol, Pablo (24 May 2021). "Un penalti te cambia la vida" [A penalty changes your life]. Diario de Ibiza (in Spanish). Retrieved 23 December 2022.
  8. Tur, Joan (14 April 2021). "La UD Ibiza se transforma en Sociedad Anónima con un capital social de 700.000 euros" [UD Ibiza transforms into a Public Limited Company with a social capital of 700,000 euros] (in Spanish). Cadena SER. Retrieved 23 December 2022.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.