Takeover update emerges involving Southampton FC owners Sport Republic | OneFootball

Southampton owners Sport Republic are not pushing ahead with a deal to buy Bulgarian outfit Levski Sofia.

Southampton owners Sport Republic will not be pursuing a deal to buy Levski Sofia after the Bulgarian club did not want to become part of their multi-club model following initial content

It had been reported last month that the Saints owners had been in contact with Levski Sofia chairman and majority owner Nasko Sirakov over buying the club.

Of course, any deal would not be straightforward, so discussions had been ongoing in the background about how realistic it would be from a football and financial perspective.

Southampton owners Sport Republic will not be purchasing Bulgarian outfit Levski Sofia

Yet, it appears a deal is now off the table, as Sport Republic has confirmed that Levski Sofia did not want to be part of a multi-club model, which was a key part of their plans moving forward.

“From the very beginning, Sport Republic's interest in Levski stemmed from our belief that as part of our wider football ecosystem, we could contribute to the further development of the club,” part of the statement read, as quoted by the Daily Echo.

“However, during our constructive conversations with the management of Levski, it became clear that they do not see the club as part of a model with the participation of several clubs. We fully respect this position, but it means that we have not been able to reach an agreement, as Sport Republic is an organization based on this model.”

As well as owning Southampton, Sport Republic also owns Turkish side Goztepe, Valenciennes in France, and Malian outfit FC Coura.

Southampton could have benefited from Sport Republic involvement in Levski Sofia

Firstly, you have to respect that Levski Sofia doesn’t want to be part of multi-club ownership, as it’s something that has divided opinion with supporters across Europe, as it’s become increasingly common in modern football.

From Southampton’s perspective, the more clubs involved with Sport Republic, the better it is. That’s because, as it stands, they are clearly the number one club in the system right now, and that wouldn’t have changed if they had bought Levski Sofia.

Plus, if they do win promotion back to the Premier League, which is the aim under Tonda Eckert, they are always likely to be the priority for Sport Republic given the financial power that comes with playing in England’s top-flight.

So, whilst it will never overly concern Southampton fans, they will keep an eye on any developments, as it brings other clubs and markets onto their radar, with the potential of unearthing diamonds in the rough from more low-key continental markets always an intriguing proposition for owners.

Obviously, there’s no guarantee it would work, but it gives an insight into Sport Republic’s plans moving forward, and it will be intriguing to see if they try and target another club in Bulgaria, or that part of Europe.