It is the first non-professional club in Spain to approve a comprehensive sports development plan with great tax benefits.
The Covadonga Group is once again at the forefront of the country’s sports clubs as the first and only non-professional club in Spain to include a comprehensive sports development project in the Supreme Sports Council’s Public Sports Support Plan (ADB) 2030. CSD). The main reflection of this important innovation, which will be officially announced tomorrow by the head of the sports center Antonio Corripio, is that it provides significant financial benefits for the companies that support it.
Thus, the group directive achieves the goal that the group base has been working on for a long time, such as finding an important counterpart in the form of tax benefits to raise funds from external companies to cover the expenses of the sporting activity. . In this way, the Group will be able to allocate its own funds to the ambitious plan for the reorganization and expansion of sports facilities, which will be reflected in the master plan that the club has been working on for some time.
This approach coincides with the policy of the Spanish Government, which, through the CSD, declared the 2030 Support Plan for Grassroots Sport by 2022 as an ‘extraordinary public interest event’ to advance public-private partnerships. In fact, this declaration allows donor companies to develop projects included in these programs and receive tax benefits. Thus, the Group has drawn up a plan that has been evaluated and approved by CSD’s Fundación Deporte Joven, who is responsible for receiving donations and distributing them in plans that have received their approval.
The club assures that this is “a vital challenge that has a direct impact on all Asturian sports”.
Tax benefits for companies that cooperate with this program will be able to deduct 15% of their advertising expenditures from the corporate tax rate, up to 90% of the donation. Companies that contribute but do not spend on advertising can benefit from the priority patronage regime figure, where up to 45% of donated amounts can be reduced.
According to the Gijón club, the inclusion of the comprehensive development plan for grassroots sports represents “a vital impetus for the Covadonga Group, which has a direct impact on Asturian sport in all its training, promotion and improvement structures”. “This is why the Group is at the forefront of basic sports education on national soil,” the club said in a statement.
Currently, there are several companies that make annual contributions among the sponsors of the Las Mestas entity. Galician banking institution Abanca became the main sponsor of the Group in 2019, with an agreement to pay 400,000 Euros for four years, in addition to displaying its corporate image on the jerseys of different sports divisions. two thousand federated athletes.
The group received sponsorships totaling €163,953 in 2021 as reflected in the last annual report by the organization and budgeted a slightly higher revenue for the current year, amounting to €180,798. The inclusion of the group program in the 2030 Plan could represent a significant change in the business’s policy to attract sponsorship.
In addition to promoting healthy lifestyles, the 2030 Public Sports Support Plan aims to increase the number of people who do sports, as well as to identify their sports talents and contribute to their comprehensive education in both physical activity and academic fields.
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