War for power in Sevilla | sports
| Sport Breaking News Updates | Yahoo news
Sevilla prepares the Extraordinary Shareholders Meeting on October 26 involved in a war for the presidency of the entity. The protagonists are the current president, José Castro, and his allies, and on the other hand José María del Nido, who led the entity between 2002 and 2013. The fight is tight. Taking into account that the parties buy shares continuously, Del Nido is the entity’s largest shareholder with 24% of Sevilla’s shares, while Castro and his allies, huddled together in Sevillistas of Nervión, plus the percentage of Rafael Carrión, another large shareholder, would control around 35%. Del Nido has the support of a group called the The Americans, of the company 777 Partners, which represents an investment fund that has acquired about 8% of the shares and that has requested the holding of this extraordinary meeting to change the president. Also with 4% of another large shareholder, José Gómez Miñán. The small shareholders, who come with 6% of the capital, seem willing to tip the balance in favor of Castro and break what seems like a tie (35% for each of the parts of the estimated share capital that can be presented at the board).
“Del Nido has an unbridled lust for power. And those anxieties are bad for the club and they will be bad for him over time, because there is something that is above all of us, which is Sevilla. And when things are going well, you cannot change for your own reasons, “he said last Monday to Radio Sevilla President Castro around the meeting on the 26th. Those who know Del Nido speak of his passion and ambition to return to the club’s presidency since March 2013, when he entered jail to serve the seven-year sentence that imposed by the Provincial Court of Malaga by the so-called case minutes and due to the looting of the coffers of the Marbella City Council. Del Nido obtained the third degree in June 2017 and since then he has not stopped his efforts to manage Sevilla again. “His wish is legitimate as the entity’s largest shareholder, but he is mistaking the forms, he has even become disgusted with his son and has broken a pact for governance that exists between the large shareholders,” sources familiar with the war told this newspaper. that has been unleashed by power in Seville.
The situation has worsened because Del Nido himself has broken relations with his son, José María del Nido Carrasco, vice president of the entity and representative of the family’s actions, but an ally of José Castro and his group. The father has sued the son because he does not recognize the representation of his own actions. In this war for power in Seville, the demands are continuous. The last one, that of Del Nido himself so that the meeting on the 26th is chaired by a judge. This fight for power comes at the best sporting moment of the entity, winner of six UEFA Cups in the last 15 years, with two qualifications in a row for the Champions League and a team that even sounds like a contender for the League.
One of the keys in the complex institutional scenario of Sevilla is the appearance of an investment fund, known as that of The Americans, which has been made with about 8% of the shareholding. His appearance dates back to 2017, when the club has evidence that Del Nido is buying shares to gain mass and return to the presidency. The leaders of Sevilla are trying to counteract this strength of Del Nido with an alliance with an investment fund, which also begins to buy shares.
After four years, The Americans They have switched sides to join Del Nido. Thus, they understand that they could profit from their 8%. It must be taken into account that Del Nido is still disqualified by court ruling from exercising the position of president in a company, disqualification that ends in March 2022. Allied with the investment fund, The Americans and Del Nido would agree on a president until Del Nido came to power next year.
The pact for the governance of the large shareholders of Seville signed in 2018 and renewed this year already proposed the alternation in power with the arrival to the presidency of the Del Nido family in 2023 and a common collective vote when electing the chairman on the board. Del Nido has left this pact and wants the presidency.
You can follow EL PAÍS DEPORTES in Facebook and Twitter, or sign up here to receive our weekly newsletter.
Sport News Today Local news War for power in Sevilla | sports