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Linares Deportivo Breaks Off Sale Negotiations with POP HELLANES

The club announces the definitive interruption of talks for the sale and calls on the purchasing company to pay 400,000 euros.

Generic image of a soccer ball on grass.
IA

Generic image of a soccer ball on grass.

Linares Deportivo has announced the definitive rupture of negotiations for the sale of the club to the company POP HELLANES, demanding a payment of 400,000 euros.

The club has officially communicated that contacts to ratify the preliminary agreement have been definitively interrupted. They stated that, despite efforts and dialogue, it has not been possible to finalize the necessary conditions for a satisfactory completion of the operation. The club's urgent needs to conclude the current season and plan for the next have been decisive factors in this decision.
In this context, Linares Deportivo and its majority shareholders have expressed their willingness to comply with the court ruling related to this process. They have requested POP HELLANES to immediately deposit the amount of 400,000 euros, corresponding to the price of the shares, into the club's account. Once the deposit is made and the transaction is certified, the club's lawyers will proceed to withdraw the appeal filed against the sentence.
Following the completion of this procedure, the current majority shareholders would step down from managing the entity. POP HELLANES and Mr. Hoyo are urged to take the reins of Linares Deportivo as the majority shareholder, in accordance with what is inferred from the judicial resolution.
Furthermore, the current majority shareholders will seek the best alternatives for the collection of the debt the club owes them over the coming years, aiming to facilitate the entity's viability. Regarding the economic and sporting situation, it is reported that the squad and technical staff are receiving their overdue salaries. The statement attributes the occasional non-payments to the uncertainty generated by the litigation and, particularly, to the consequences of the court ruling.
The shareholders on the administrative board have provided the necessary treasury funds over the last two seasons to maintain the club's activity and compete in a category described as deeply inflationary and deficitary. Finally, it is announced that all this information will be detailed at the General Shareholders' Meeting scheduled for July 5th.