Tuesday, 5 January 2016

Nash and Sarver Buy into Mallorca

Former NBA star Steve Nash has officially become a majority stakeholder in Spanish second-division club Real Club Deportivo Mallorca. 

According to the club, the Canadian former point guard has partnered up with Phoenix Suns owner Robert Sarver to purchase 20 million euros (21 million dollars) of RCD Mallorca shares. In doing so, Nash and Sarver have replaced the German group led by Utz Claassen as the club's majority shareholders. 

Claassen, who had been a 98% shareholder, has reduced his stake in the club to 22% but will initially stay on as its president, a role he has held since the end of 2014.

With investment and share capital worth more than 26 million euros, RCD Mallorca are the undisputed financial heavyweights in the second tier of Spanish football, although things are not going so well out on the pitch. 

The team currently lie 18th in the table and are fighting to avoid relegation to the third division (Segunda B).

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