A CONSORTIUM headed by Spanish football legend Sergio Ramos has reached an agreement in principle to buy La Liga side Sevilla for almost €450 million, according to reports.
The former Real Madrid star, widely regarded as one of the greatest defenders of all time, is the public face of a group bankrolled by the Five Eleven Capital investment fund that entered a three-month period of exclusivity to acquire the Andalucian club in January.
According to El Pais, an agreement to purchase an 80% stake currently owned by the Ales, Guijarro-Castro and Carrion families was struck by negotiators on Tuesday morning.
The deal is understood to be worth €444 million, equivalent to around €3,500 per share.
The transaction will require final approval from La Liga and the Spanish National Sports Council.
Sevilla-born Ramos, 40, is set to take over with his boyhood club in a precarious position.
The team narrowly escaped relegation last year and currently sit 13th in the La Liga table, just three points above the drop zone with three games of the season remaining.
In the last three financial years, Sevilla have shouldered losses of €19 million, €81 million and €54 million respectively.
“The shareholders had no choice but to sell given the club’s situation, and Ramos’ offer is very good financially,” a source familiar with negotiations told El Pais.
“They have received guarantees of payment on excellent terms. Although it hasn’t been signed yet, there shouldn’t be any problems.”
Ramos began his illustrious career at Sevilla before joining Real Madrid in 2005.
During a 16-year spell with Real, he won 22 trophies, making more than 670 appearances and scoring 101 goals.
He also made 180 appearances for the Spanish national team and was part of the team that won the World Cup in 2010 and UEFA European Championship in 2008 and 2012.
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