Siviglia rejects €420m Riverside offer, demands anti‑Ramos clause
In the boardroom of the Andalusian club, tension hung as Siviglia’s shareholders gathered to consider a €420 million acquisition proposal from Riverside Management Group (RMG). The offer, presented by the US‑listed firm, was met with a demand for an anti‑Ramos clause, putting former defender Sergio Ramos at the centre of the dispute.
El Confidencial the families Carrión, Castro, Del Nido, Alés and Guijarro, who together control 85 % of the club, insisted on the anti‑Ramos provision before giving any green light. Their collective stake gave them the leverage to shape the terms of the deal.
The €420 million valuation included the club’s debt; stripped of liabilities the figure fell to €337 million. The price per share was set at €3.129, a number close to the amount Sergio Ramos himself had offered in May when a player‑led consortium seemed close to taking over.
A key obstacle was a €5 million penalty clause drafted by club secretary‑general Alberto Perez‑Solano and Goldman Sachs adviser Gonzalo Avila, to be triggered if the transaction failed to close. The penalty was intended as a safeguard but ultimately contributed to the stalemate.
RMG argued that its financial package was robust enough to absorb the penalty, yet the disagreement over the clause proved decisive. The American group also pledged an undisclosed loan to fund Siviglia’s summer transfer targets, underscoring its commitment despite the impasse.
Parallel to the ownership talks, Siviglia launched an internal restructuring, dismissing part of its staff to cut costs during the fragile sale period. The move was aimed at reducing wage expenditure and stabilising the club’s balance sheet.
Earlier, the club had hired Goldman Sachs to locate a buyer for an 85 % stake, valuing the share package at roughly €450 million. Until that point, the search had been managed by JB Capital Markets.
The 2024‑2025 season closed with a loss of €54.06 million, a 33.3 % improvement on the previous year’s €81.7 million deficit, yet the figure remains significant. Revenue fell sharply, dropping almost 34 % from €174.97 million to €115.18 million, with additional €5.69 million from player sales and €4.27 million from other sources.
Finally, the club is also seeking a purchaser for the Sánchez Pizjuán stadium, a step that forms part of a broader plan to restore financial health ahead of any future change of ownership.