Valladolid President In Takeover Talks With Mexican Businessman

Valladolid clinched promotion to La Liga with a victory over Numancia on June 16.GETTY IMAGES

Spanish football club Valladolid, which recently secured promotion to La Liga for the '18-19 season, "could be very close to a change of ownership," according to G. García of MARCA. Current club President Carlos Suárez "received an offer from a powerful Mexican businessman for a 59% stake in the team." Suárez and the Mexican bidder met on Tuesday in Madrid. The Mexican businessman, who owns a Liga MX club, "has made two approaches" to the Spanish club. The first time, the deal was "nearly completed," but there were doubts about whether Suárez would remain president after the acquisition. The club's recent promotion to La Liga, and the nearly €40M ($46.3M) it will receive from TV rights, "have opened new possibilities of a purchase that is reportedly close to being completed" (MARCA, 6/20).