Sergio Ramos’ proposed takeover of Sevilla has completely collapsed after the Real Madrid legend drastically altered the terms of his bid.Â
Negotiations were abruptly terminated on Wednesday when the former defender returned to the table with a heavily reduced offer, prompting the selling party to walk away from what was supposed to be a historic deal for the Andalusian club.
According to El Desmarque, Sevilla have ended negotiations with Ramos and his investment group following a dramatic shift in their proposal.Â
Two weeks ago, a letter of intent was signed for a massive â¬440 million takeover. This initial agreement included â¬80m for a capital increase, â¬290m for shareholders, and the remaining funds allocated to clear the club’s estimated net debt.Â
The selling party had even agreed to grant a payment extension while absorbing any losses incurred until the final signature.Â
Ramos had assured the current owners that the payment guarantees would be provided, making the sudden U-turn this Wednesday highly unexpected.
The situation deteriorated when Ramos arrived at Wednesday’s meeting with a new representative. Roberto Alvarez, a prestigious sports lawyer acting on behalf of a Mexican family set to co-lead the project, replaced the previous advisors.Â
The new consortium presented radically different terms, cutting the valuation in half to a â¬220m operation. Under this revised structure, â¬120m would be injected into an urgent capital increase, giving the group a 42% controlling stake.Â
The remaining â¬100m would then be used to purchase another 18% from existing shareholders, granting them total control while rendering the remaining shares essentially worthless.
Unsurprisingly, the current ownership immediately rejected the altered proposal. The selling party unilaterally broke off the agreement, considering the new financial conditions completely unacceptable for the club’s future.Â
By not specifying which exact shares they intended to buy, the prospective buyers planned to launch a general public offer, a move that would leave the current owners heavily marginalized.Â
Furthermore, this downgraded bid was actually significantly lower than an alternative proposal previously submitted by another investment group, which the board of directors had not even entertained at the time.Â
The sudden collapse leaves everyone involved feeling as though five long months of intense negotiations have been entirely wasted.
Sevilla now face a race against time to secure vital investment. With the mandatory capital increase remaining an absolute necessity, the club must quickly seek out a new buyer.Â
Fortunately for the Andalusian outfit, several new investors have already knocked on the door to reactivate their interest, meaning fresh negotiations could begin very shortly.
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