Spain Sports News
Deal close for British purchase of Mallorca football club
By h.b. - Sep 6, 2008 - 5:47 PM
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The President of Mallorca football team, Vicente Grande, after meeting with the British businessman, Paul Davidson, has said that the sale of the shares owned by the club could be completed this week. Grande refused to give the amount to be paid for the shares of the club which is known to have a current debt of 800 million €.
Vicente Grande controls 93% of the shares through his Binipuntiró company, and had placed them on sale after declaring the club to be ‘provisionally bankrupt’.
He said that only small details now remained to be agreed and that ‘perhaps next week Señor Davidson will present a definitive offer’.
Davidson said that he was continuing to move ahead with the project and that he was not bothered by any other rival offers for the club.