Just off the western coast of Morocco lies a volcanic archipelago known as the Canary Islands. Despite its size, the Spanish-controlled territory has developed a locally based premier division called the Preferente which combines with the fifth division of Spanish football. Local Canary Island club Raqui San Isidro are becoming more popular by the day in the Preferente since Pedro’s transfer from Barcelona to Chelsea.
In accordance with FIFA and Article 21: Solidarity Mechanism, Raqui San Isidro will receive a percentage of the transfer fee Chelsea paid Barcelona to acquire the Spanish winger. The article says: “If a professional is transfered before the expiry of his contract, any club that has contributed to his education and training shall receive a proportion of the compensation paid to his former club”. Depending on how long a player spends at youth clubs, they can earn between 0.25% and 5% of the total transfer fee overtime he moves countries.
Because Pedro played in the Canary Islands until the age of 17, his former club Raqui will earn £320,000 from the 20 million deal that moved him to England. The 320,000 pounds is only pennies compared to the total amount Barcelona will bring in from Roman Abramovich, but to a small island club it means the world to them.
Raqui San Isidro earned almost half a million Euros from Pedro's transfer. Photo: @lucarne_actu | Twitter
Jamie Lorenzo, president of Raqui San Isidro, took over the club three years ago with more debt than one would wish. “When I took over the club it had €300,000 debts and now it only owes €22,000 in social security plus a loan to a building society" said Lorenzo. His financial know-how brought Raqui back onto its feet and even helped push them to an impressive run in the league that saw them finish second place overall.
The 300,000 Euros will easily put Raqui back into the positive and guarantee a steady source of income in the future. “We will but some apartment, in order to rent them out and guarantee the club some money. It will mean we’re not dependent on subsidies from the local authorities in the Canaries. It will guarantee us some 5,000 or 6,000 Euros per month,” Lorenzo continued to explain.
A steady source of income for the future and the surplus cash they received from Pedro’s transfer opens so many options for the Canary club. More money means more player transfers, more construction of training facilities, more coaching staff, and a bigger presence in the Spanish football pyramid.
Here’s to the future of Raqui San Isidro.
