Soccer team saved by world's richest man

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Carlos Slim, a telecommunications tycoon with an estimated net worth of $69 billion, will become the majority shareholder of the Spanish soccer team Real Oviedo, the New York Times reports.
The team was in danger of insolvency, and needed to raise nearly 2 million euros by midnight on Saturday in order to stay afloat, Businessweek said.
Slim acquired controlling stake (30 percent) of the team for 2 million euros.
Earlier this fall, Slim purchased stakes of 30 percent in two Mexican soccer teams.
The New York Times reported that slim plans "to create synergies and exchanges between Spanish, Mexican and Latin American football."
The team has a fan base of 20,000 supporters, and until recent years of hardship, had been a first-division team. Their struggles have demoted them to third-tier level.

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This page contains a single entry by pete8904 published on November 17, 2012 7:51 PM.

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