Caixabank Reacquires Its Stake In Spanish Basketball League Club Sevilla

Caixabank “has avoided the disappearance" of Spanish Basketball League (ACB) club Sevilla after repurchasing the shares in the club that it sold one year ago to U.S. investment firm Jefferson Capital Funding, according to MUNDO DEPORTIVO. Sources at the bank said that the new agreement “is for only one year, and that the goal is for a new investor to take charge of the club.” Institutional, business and social efforts during recent weeks “have ended up causing Caixabank to return, as it did not want to see its bet on Sevilla for several years eclipsed by a tragic ending like the disappearance of the club.” The bank hopes that “in the coming months there is an investment offer of a professional project that assures the long-term future of basketball in Sevilla.” In the last three years, Caixabank has been the club’s “only stable source of revenue,” investing €12.45M (MUNDO DEPORTIVO, 8/5).