Messi closes in on takeover of Spanish second-division club

Lionel Messi has reached a preliminary agreement to acquire a Spanish second-division football club, according to local media reports.

The Argentine superstar has reportedly reached an agreement to acquire Eldense, with Spanish media reporting that the deal could give him ownership of 100 percent of the club's shares. 

The transaction remains subject to due diligence and the completion of legal and contractual procedures, with regulatory approval also required before the takeover can be finalised.

Spanish news agency EFE, citing sources close to the negotiations, reported that a final agreement is expected within days.

Eldense is a 105-year-old club based in Elda, in Alicante province on Spain's eastern Mediterranean coast. 

The deal would make it the second Spanish club acquired by Messi this year and the first to compete in a professional league. He bought fifth-tier side Unió Esportiva Cornellà in April and reportedly owns the club outright.

The club has spent much of its history in Spain's second and third divisions, as well as in regional competitions, and came close to folding around the turn of the century. Eldense plays its home matches at the 5,776-capacity Estadio Nuevo Pepico Amat.

Eldense currently competes in Spain's 22-team second division and sits 20th in the early stages of the new season, having taken two points from its opening four matches without recording a victory.

An acquisition would add to Messi's growing football portfolio and expanding business interests. 

His family's Leones project in his native Rosario has also moved into Argentina's professional football structure, while he owns a stake in Uruguayan club Deportivo LSM alongside Inter Miami teammate Luis Suárez. 

Messi also has an option to acquire a stake in Inter Miami, where he currently plays, after retiring.

Beyond football, the Argentine's investments include a real-estate investment trust listed in Spain, a US-based venture capital fund and a stake in an Argentine restaurant chain.

Messi's move would also underline the growing appeal of Spain's second division to investors. The competition combines clubs with long top-flight histories and recently relegated sides with established infrastructure and fan bases.

His long-time on-pitch rival Cristiano Ronaldo has already entered the same market, acquiring a 25-percent stake in second-division Almería through his investment company. 

Argentine businessman Marcelo Figoli, meanwhile, is the president and majority shareholder of Burgos, another club competing in Spain's second tier.

His investments, combined with his playing and sponsorship earnings, have placed Messi among the small group of active athletes estimated to have a net worth of more than US$1 billion.

A representative for Messi declined to comment.

– TIMES/BLOOMBERG/NA