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SBD Global/January 11, 2013/Franchises

Former Espanyol Presidents Negotiating Ownership Stakes With Irani Investor Group

Former Espanyol Presidents Daniel Sánchez Llibre and Ramon Condal are negotiating the sale of "an important shareholder package" in the La Liga club to an Irani investor group, according to Maria Carmen Juárez of MUNDO DEPORTIVO. The problem is that the two former presidents only have control of 30% of the club, and the Irani group is looking to purchase a 40% share. Llibre and Condal "are looking for shareholder support outside their circles" to reach the 40% required by the Irani group. The negotiations between the parties "are very advanced" and the only element missing is finding the 10% difference. The former presidents are "looking for shareholders that will sell their shares in the club to close the deal." Expectations are that "the operation will be closed shortly." The sale of the "high percentage of shares" in the club would bring in important capital to the coffers of the financially struggling team (MUNDO DEPORTIVO, 1/9). DIARIO GOL reported Espanyol currently has net debts of €144M ($190M) (DIARIO GOL, 1/10).
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