The Battle in the Boardroom

Interesting article in The Athletic:

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Unfortunately it’s paid content. Thanks for the link and info.

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It’s a fabulous article. In summary, Sevilla’s positive financial numbers (profit of 1 million Euros in a coronavirus year on 217.7 Million Euros in revenue) and Monchi’s business model made them attractive to potential outside investors (an American investment group called 777 Partners) who saw this as a blueprint for implementing at other futbol teams. They think that Sevilla’s revenue earning potential isn’t being achieved because of lack of stadium VIP boxes and poor marketing. They bought roughly 13 percent into Sevilla to gain a board seat. The board member, Andrez Blazquez, caused even more termoril in an already combative board room because of the Castro vs Del Nido feud. Anyway long story short, Blazquez was booted and 777 is on the outside looking in. They are trying to get both the Castro group and the Del Nido group to sell their shares so 777 could take over.

“Look, it has been a very long journey,” Arciniegas says. “We’ve been buying shares, but it has been difficult, there is no one controlling party to have a conversation with about selling the club. And to make matters worse, there’s a lot of parties that do not like each other. So it is difficult to bring everybody to the table, to have a common goal and a common project.”

“There are a lot of personalities, family tensions,” says Arciniegas. “We are just focused on finding the ability to drive the club to a much safer and sustainable financial position. That is all we want to do.”

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This Arciniegas guy is with 777 Partners?

So the moral of the story is, it’s quite difficult to own Sevilla the way that Peter Lim owns Valencia for example - or am I missing something?

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God I hope an American company doesn’t get controlling interest in Sevilla. When American businesses own something profits go up and the soul evaporates.

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As a fellow American I can second this notion

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Correct “Colombia-born Juan Arciniegas leads 777 Partners’ sports, media and entertainment vertical”

Here is a link for a free 30 day guest pass. It’s only good for the first 5 to click it.
https://theathletic.com/gp/hc2d6smor5

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