“Is the worst offer ever those we have received”. “They wanted to buy Sevilla for 100 million”. It is the feeling of the selling side of Sevilla once received this morning the proposal of the group headed by Sergio Ramos. Despite the words pronounced by Luis Carrión upon leaving the meeting that took place at the Sevilla Center hotel, the reformulated proposal for the camero broke everything agreed previously. Last month of Januaryan agreement was signed with very clear terms. The purchasing party, after examining in detail the financial situation of the club, the famous due diligenceagreed buy 85 percent of the shares for an amount 275 million eurosassuming a debt of 85 million and one capital increase of 80. A total amount of 440 million euros.
Nowinstead of taking over that percentage, it would be 100 to buy 32,000 shareshe 18% of the entity once the capital increasewhich would be prior. This would leave the rest of the shareholders out of the operation from Seville (54,000 shares). For reach 60% intended, Ramos and his group they would execute the capital increase with 120 million of euros that it would mean a first 42%. A movement by which they would already have a majority shareholding that would allow them to control the club and subsequently make the expansions they wanted, with the dilutive effect among the shareholders.
A couple of weeks ago Sevilla agreed to readjust the payment schedule and share the losses of this exercise. On the contrary requested payment guarantees while working against the clock to present all the documentation, including, for example, the communication to CSD. This past Monday, Five Eleven sent the draft of the sale and yesterday the meeting to, in theory, verify payment guarantees. The shareholders received the “unacceptable” Ramos proposalthat has left out of the equation to Five Eleven Capital. The player came with his brother Renéhis lawyer Julio Senn and Roberto Alvarezlawyer for the Mexican investor.
And now what? From this moment other investor offers will begin to be evaluated that they were already in pole position and that they have continued working to reach an agreement because they thought that the operation with Five Eleven would not go anywhere. While a new chapter is being written, the club plan next season with José Ignacio Navarro in sports management and with Luis Garcia Plaza on the bench
