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Sergio Ramos’ bid to take over Sevilla has completely collapsed after the Real Madrid legend drastically altered the terms of his offer.
Negotiations ended abruptly on Wednesday, when the former defender returned to the table with a greatly reduced offer, leading the selling party to abandon what was supposed to be a historic deal for the Andalusian club.
A sudden change of mind
According The UncheckSevilla have ended negotiations with Ramos and his investment group after a dramatic change in their proposal.
A letter of intent for a massive €440 million acquisition was signed two weeks ago. This initial agreement included €80 million for a capital increase, €290 million for shareholders and the remainder of the funds intended to pay off the club’s estimated net debt.
The selling party had even agreed to grant an extension of payment and absorb the losses suffered until the final signature.
Ramos had assured the current owners that payment guarantees would be provided, making Wednesday’s sudden U-turn very unexpected.
The shortened proposal
The new consortium presented radically different conditions, reducing the valuation by half to a transaction of 220 million euros. Under this revised structure, €120 million would be injected into an urgent capital increase, giving the group a controlling stake of 42%.
The remaining €100 million would then be used to buy another 18% from existing shareholders, giving them full control and leaving the remaining shares essentially worthless.
Sevilla walks away from the agreement with Ramos
Unsurprisingly, the current owners immediately rejected the amended proposal. The selling party unilaterally terminated the agreement, considering that the new financial conditions were completely unacceptable for the future of the club.
By not specifying which exact shares they intended to buy, the potential buyers planned to launch a general public offering, a move that would leave current owners severely sidelined.
Furthermore, this discounted offer was in fact clearly inferior to an alternative proposal previously presented by another investment group, which the board of directors had not even considered at the time.
The sudden collapse leaves everyone involved feeling that five long months of intense negotiations have been completely in vain.
The La Liga team races against time to find a new buyer
Seville now faces a race against time to secure a vital investment. Since the mandatory capital increase remains an absolute necessity, the club must quickly search for a new buyer.
Fortunately for the Andalusian group, several new investors have already knocked on the door to reactivate their interest, so new negotiations could begin shortly.
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