Spanish regulations could force Lionel Messi to make ownership decision after agreeing Eldense deal | OneFootball

Lionel Messi could be forced to choose between two clubs after agreeing a deal to buy CD Eldense because of Spanish regulations on multiple ownership, according to SPORT.

The Argentine legend already owned an 85% stake in UE Cornella, so he could now control two Spanish clubs.

The argument in Messi’s favour is that both clubs don’t play in the same league. Eldense competes in the Segunda División while Cornellà plays in the Tercera Federación.

However, the situation is complicated because Eldense’s reserve team also competes in the Tercera Federación.

While they are placed in different regional groups, both sides could meet in the promotion play-offs if they finish in qualifying positions.

Interestingly, their different leagues may not be the primary issue under Spanish law.

Spain’s Sports Law governing public limited companies restricts an individual or company from holding 5% or more of the voting rights in two clubs belonging to the same sporting discipline.

However, the rules also distinguish between economic ownership and voting rights, meaning an investor could have a financial interest in two clubs without controlling both.

That could help Messi complete the Eldense takeover while retaining his investment in Cornella.

One option would be for Messi to own the economic rights to both clubs but give up the political rights (including voting and management powers) in one of them.

Those rights would also need to be outside the control of people or companies acting on his behalf.

The Spanish Higher Sports Council (CSD) will ultimately determine whether the proposed structure complies with the rules.

Its previous decisions suggest it looks beyond formal ownership arrangements when assessing whether an investor effectively controls two clubs.

In 2014, the CSD rejected an ownership structure involving close family members across Cadiz and Granada because it was considered an attempt to control two clubs within Spanish football.