After a meeting on Wednesday between NBA Phoenix Suns Owner Robert Sarver and the 33 members that form Fundación Cent Anys del Levante UD, which owns 70% of the shares in La Liga side Levante, the Fundación's five-person negotiating committee had its verdict: "a yes to the sale of the club to the American magnate," according to J.M. Bort of LEVANTE-EMV. With the "decision made," the sale still "needs a decisive step." On Tuesday, the members of the Fundación will meet to confirm, or annul, the sale of the club to Sarver. Two thirds of the members -- 22 of 33 -- will have to ratify the decision. If the "response is a 'yes,' then a shareholders meeting will be called, the last stop for a train that appears unstoppable." Many "points of the deal are already agreed upon." For example, Sarver will pay €5M ($5.5M) for 70% of the shares in the club. He has also agreed to liquidate Levante's debt, which is estimated at €51M ($56M). He plans to pay €20M ($22M) initially and cover the remaining €31M ($34M) through a capital increase. Sarver "has accepted the conditions of the Fundación: respect the symbology of the club." He will not be able to change the logo, the team colors or its location (LEVANTE-EMV, 7/23).
