Sergio Ramos bid for Sevilla collapses after buyers alter terms | OneFootball

El Correo de Andalucía reports that talks between Sergio Ramos, Five Eleven and Sevilla’s main shareholders have effectively collapsed after the buyers proposed a structure that diverged sharply from January’s agreement.

A binding letter was signed in January with Five Eleven and Sergio Ramos, judged the leading offer at the time ahead of alternatives including Antonio Lappí. The plan envisaged around €450 million in total, with roughly €290 million for about 85% of the share capital, some 86,000 shares, plus around €90 million tied to net financial debt and an €80 million capital increase for the club.

In recent days the buyers sought to pay in instalments and asked sellers to assume part of the 2025-26 losses. Sellers were willing to explore both, provided robust guarantees covered any deferred payments.

A meeting at the Sevilla Center this morning, set to clarify those guarantees, instead produced a fresh blueprint. It proposed an initial €120 million capital increase subscribed by the investors to reach about 42%, then the purchase of roughly 18% for around €100 million, delivering near 60% control without acquiring the originally envisaged volume.

The shift would cut the acquisition from about 86,000 shares to roughly 30,000 and reduce the overall outlay to approximately €220 million. Entering via a capital increase would hand decisive influence and enable further corporate moves, including future capital raises, risking dilution for non-participating shareholders. The capital increase had been intended immediately after buying 85%.

Talks are now at breaking point, with the change seen as a de facto rupture unless there is a late U-turn. Five Eleven did not attend the meeting, amid suggestions a new investor imposed terms deemed unacceptable and the lowest among the options considered, excluding most shareholders.

Source: Superdeporte