Twitter Attracts Investments for Spanish Soccer Club Real Oviedo
Real Oviedo raised 274,000 Euros in nine days from supporters who learned about the sale of club shares through Twitter.
The amount forms part of the €1 million total investments the club gathered in that span of time, according to board member Juan Ramon.
The 86-year-old club has until Saturday to raise €1.9 million ($2.4 million) or face extinction.
In a desperate attempt to salvage the Spanish soccer club, the board of directors announced a share issue earlier this month to attract investment.
The scheme, open to anyone with a spare €11 ($13), became an instant Twitter sensation, and persuaded football fans around the world to purchase shares.
Last week, queues formed outside the club's 30,000-seater Estadio Carlos Tartiere as fans clamored to buy stakes.
The English Premier League stars have also joined forces to help save their former club, while Real Madrid legend Raul bought €1,000 worth shares.
However, Spanish football expert and long-time Real Oviedo supporter Sid Lowe says he is unsure whether the social-network campaign will be enough to save the club before the looming deadline.
The club is responsible for unearthing some of the gems of Spanish football. Names such as World Cup winner Juan Mata, Arsenal's little magician Santi Cazorla and Swansea's star striker Michu are all graduates of its youth academy.
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