A sale of La Liga side Espanyol "could be a matter of days," according to Iván Molero of AS. U.S. investment firm Cerberus Capital Management reportedly "appears to be the buyer of the shares owned by Espanyol majority shareholders Dani Sánchez Llibre and Ramon Condal." This is "not the only option, as Espanyol has also negotiated with a Chinese group, but it is the closest to being completed." The Americans "would take over the loans of both Sánchez Llibre and Condal," as well as the club's debt -- estimated at €134M ($151.3M) -- through a credit that is "already secured through another business." The intention of Cerberus is to "revitalize Espanyol," invest €50M ($56.5M) on player signings, "and after an undetermined period of time, put the club back up for sale." To achieve this, Cerberus will have to carry out a capital increase, "which is already being negotiated." This will need the approval of Espanyol's second-largest shareholder, Genética Perica. That group is "not willing to sell its shares, but is willing to support the entrance of Cerberus and participate in the capital increase." Without Genética Perica, Cerberus "will not be able to acquire 51% of the social capital of Espanyol, and will not be able to acquire the club" (AS, 6/10).
