ANDRES INIESTA GAVE a little something back to his local community — by becoming the biggest shareholder in a Spanish third division side.
Albacete Balompié announced yesterday that the Barcelona star, who spent two years with the club as a child, snapped up €420,000 worth of shares in the latest public offering to stabilise the club’s finances.
The cash injection will give Albacete a major lift as they look to quickly bounce back to Spain’s Segunda Division following their relegation last season.
Born in the small town of Fuentealbilla, Iniesta was on Albacete’s books for two seasons before he was spotted and whisked away to Barcelona’s La Masia academy at age 12.
ABC.es reports that the player’s father, Jose Antonio Iniesta, will join the Albacete board and is considered a strong candidate to be elected as vice-president at the club’s AGM.
Founded in 1940, Albacete have plied their trade in Spain’s second tier for most of the last 20 years though they exceeded expectations after securing promotion in 1990/1991, finishing seventh on their first season in La Liga.
They survived five years in the top flight before relegation in 1995/96, and aside from a two-year return to the top from 2003-2005, stayed in the Segunda until their relegation in bottom place at the end of last season.
