Real Oviedo's ordinary shareholders' meeting has approved the club's financial accounts and backed the project for a new sports city in Siero. The assembly, scheduled for November 25 at the Auditorio Príncipe Felipe, saw over 62% of the club's share capital represented.

The session began at 5:00 PM with 87 shareholders attending in person and 12 represented, totalling 107,878 shares with a nominal value of nearly three million euros. The accounts for the 2007/2008 financial year, ending June 30, 2008, were approved with 99.01% support from the capital present. The management of the administration council for that period and the budget for the following season were also ratified.

Council president Martín Peláez chaired the meeting, attended by the entire board except for Luis Tuñón Escobar, who was absent due to illness. The audit firm Centium Auditores S.L. and notary Manuel Tuero oversaw the proceedings.

Sporting and financial context

This approval comes during a period of on-pitch recovery for the blue-and-white side. Real Oviedo sit ninth in the Segunda División with 17 points from ten games, having recorded five wins, two draws and three defeats. The team is in a positive run with three victories in their last five matches, including last week's 2-1 win at AD Ceuta FC on Sunday 18 October, with goals from Samuel Rodríguez de la Riva and Carlos Domínguez, the team's top scorer this season with four goals. They are currently on a two-game winning run, having also beaten Eibar 3-1 on 12 October, a match in which Domínguez scored twice.

This solid sporting form, with a +3 goal difference having scored 13 and conceded 10, provides a stable backdrop for the club's institutional initiatives. Funds from relegation assistance have been allocated to finance the ambitious sports city project, a tangible investment in future infrastructure.

The next sporting challenge is a tough away trip to face leaders Almería this Saturday, October 24. The Blues, who trail the Andalusian side by seven points, will look to continue their good run in a scenario where institutional stability and sporting strength go hand in hand. The team approaches this fixture following a sequence of league results that includes wins against Valladolid (0-3) and Sporting Gijon (2-0), but also defeats to Sabadell (3-1) and Eldense (4-1).

The original report is at elcomercio.es