Spanish Basketball League Club Sevilla Looking For Buyer To Guarantee Spot In ACB

Spanish Basketball League (ACB) club Sevilla President Fernando Moral and VP José Manuel García-Quílez "recognized the difficult financial situation the team faces, but also their belief that Sevilla will remain in the ACB next season," according to AS. Moral assured that "the club still belongs to Jefferson Capital," the U.S. business that acquired it a year ago. Previous club owner CaixaBank, which still sponsors the club, had to help the club "avoid liquidation" last February. In exchange, CaixaBank received the option to "sell the club between July 1 and July 15, but Moral indicated that after holding meetings with up to eight groups, a sale was 'not produced.'" He added that CaixBank was asking for €2M ($2.2M) from bidders, and was offering to contribute €1M ($1.09M) during the first two years. This deal is "still available" if a new owner approaches, which is why Moral believes that "the situation is reversible, that the club has a solution" (AS, 7/21).