The Spanish team Leganés has been sold to a Dubai fund for approximately €100 million.
The company 885 Capital, specializing in investments in sports and technology, completed the acquisition of 84.12% from the Blue Crow Sports group in June, now holding 99.1% of the team that finished 16th in the Spanish second division last season.
The Spanish newspaper AS, which broke the news of the deal, explains that negotiations had been ongoing for some time and the agreement depended on Leganés remaining in the second division.
According to the club from the outskirts of Madrid, the investment from 885 Capital will allow for “a firm commitment to the growth and consolidation” of the sporting project.
“The new shareholder will focus its efforts on strengthening the club’s sporting performance, deepening the connection between members and fans, continuing to improve infrastructure, and preserving the identity, history, and values of a club approaching its centenary,” Leganés stated in a press release.
The American group Blue Crow entered the world of football with a major impact in 2021, but the revenue generation prospects did not materialize, which is why it proceeded with a restructuring of its assets, according to AS.
Currently, it owns Cancún and Le Havre in Ligue 1, but AS says it would not oppose the sale of the French team.
Now it is selling its stake in Leganés, which it bought in 2022 from the Moreno-Pavón family in a deal worth approximately €83 million. That is, it will have a gain of approximately €17 million.
885 Capital has appointed Eduardo Cosín — former vice-president — as the club’s new president.