An agreement has been reached for the sale of Sevilla following a meeting between Sergio Ramos, Martín Ink (CEO of Five Eleven Capital), and the major shareholders of Sevilla. The agreement was reached after about two hours of meetings in a hotel. The formal paperwork is still outstanding.
Sergio and his brother, René, left the hotel smiling and gave a thumbs-up, but made no comment to the media present.
Negotiations and Due Diligence
Formal contact with the major shareholders began in mid-January. A letter of intent (LOI) was signed, starting an exclusive negotiation period that ends on 31 May. During this period, KPMG conducted an audit of Sevilla’s finances, a process that previously caused another investment group to abandon the deal.
Ramos’ Role and the New Structure
The agreement comes one day before the team plays Villarreal. The roles of those involved in this new phase for Sevilla are still to be defined.
Marc Boixasa is the Sporting Director of the Five Eleven group. He has over 10 years of experience with City Football Group, began his career at Sevilla, and was previously CEO of Football at Al-Hilal Saudi Football Club. Jesús Zamorano, formerly of La Liga, is the Director of Operations. Ramos will not only be an owner of Sevilla but also a key figure in sporting and strategic decision-making.
The process had been ongoing since mid-January with initial contact made with major shareholders.
- A letter of intent was signed, starting an exclusive negotiation period ending on May 31.
- KPMG conducted an audit of Sevilla’s accounts.
- Marc Boixasa, with experience at City Football Group and Al-Hilal Saudi Football Club, is the Sporting Director of Five Eleven.
The agreement was reached a day before Sevilla face Villarreal.