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La Liga Side Levante Majority Shareholder Votes Against Sale To Suns Owner Sarver

La Liga side Levante's Fundación Cent Anys del Levante UD, which owns 70% of the shares in the club, voted against a sale to NBA Phoenix Suns Owner Robert Sarver, according to Pablo Tarancón of SUPERDEPORTE. Sarver's offer did not receive the 22 votes of approval required from the 33-member board, "meaning his offer has been formally rejected after two months of contact and negotiations." The votes included 14 in favor, 13 against and two abstentions -- four of the 33 members were absent (SUPERDEPORTE, 7/28). In Valencia, V. Chilet reported the result "was very far from what was expected just days ago." Sarver was offering €56M ($61.9M). Fundación President José Manuel Fuertes criticized the four members who were absent. Fuertes: "We hope we can run into them (Sarver and his partners) some time because I know that they are going to win in the sports project that they bring in mind. Their offer exceeds in many matters what can be offered. It has earned the 'yes,' but not with sufficient majority. The result has been tight" (LEVANTE-EMV, 7/28).

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