Azul Azul pays the entire tax debt of the U and renews the concession contract until 2052

Azul Azul has paid the tax debt of the U. A piece of news that comes to deal with the complex economic situation that the secular club was going through and that incidentally extends the concession of the institution until 2052, making use of a clause in the signed contract in 2007.

The information came from a letter published by Azul Azul and signed by the general manager of the blue concessionaire, José Ignacio Asenjo. There, what happened to the public limited company in recent days is explained in detail and the situation is communicated to the Commission for the Financial Market.

On December 26, 2022, the Company proceeded to deliver to the General Treasury of the Republic a payment document regarding the entire tax debt that the Professional Soccer Corporation of the University of Chile (the “Corporation”) had in force. with the Chilean Treasury”, begins by reporting the text.

In the same way, the letter explains that with the total cancellation of the debt, the concession contract is renewed until mid-2052.Having received confirmation and made the payment to the General Treasury of the Republic, as well as the agreed receipt of this, we inform you that said obligation is extinguished and that consequently the automatic extension of the concession term that the Company has operated is the owner, with respect to all the assets, rights and assets of the Corporation, until June 8, 2052″, is clear from the letter.

This situation is produced by “the eighth clause of the Concession, Use, Enjoyment and Exploitation Contract, entered into by public deed dated June 8, 2007, in the Forty-fifth Notary of Santiago of Mr. René Benavente Cash, between the Corporation, bankrupt and the Company”.

In this way, the control of Universidad de Chile will continue to be exercised by Azul Azul for thirty more years, but also the U becomes the first team in Chilean soccer (which is controlled by a Public Limited Company) to cancel the debt it had with the Treasury .

It should be remembered that after the SADP Law of 2005, the clubs recognized a historical tax debt for image rights and prizes, opening a delinquent situation that was largely avoided by Chilean soccer teams.