April 1 – TS Capital Partners, a private equity and venture capital firm, has acquired a 75% stake in Spanish third division side Recreativo de Huelva – with the group set to become the largest shareholder in the entity.
Spanish business publication 2Playbook reports that the group will take over the shares of Gildoy Espana – which were expropriated by the Huelva City Council in 2016. The City Council, however, does retain a minority stake (23%) in the club and it remains unclear who is behind TS Capital Partners.
It is known that former Real Betis and Córdoba CF board member Adrián Fernández-Romero will serve as the club’s new president. He will be joined on the board by journalist Simón Onrubia.
Recreativo de Huelva are the oldest football club in Spain having been founded in 1889 by Scotsman Dr William Alexander Mackay and six others, a month prior to the formation of Sevilla FC.
In 2016, the club was close to bankruptcy, owing around €20 million in taxes. In recent years, they have shuttled between the Spanish lower leagues and today Huelva linger in 19th position in the Primera – the Spanish third-tier – just one spot above bottom-of-the-table CF Intercity.
Contact the writer of this story, Samindra Kunti, at moc.l1743609002labto1743609002ofdlr1743609002owedi1743609002sni@i1743609002tnuk.1743609002ardni1743609002mas1743609002