Can Lionel Messi Buy Another Club in Spain?
The Argentine already owns Cornellà and is now negotiating to buy Eldense, but Spanish law sets clear limits on multi-club ownership.
Lionel Messi’s agreement in principle to acquire CD Eldense has raised an inevitable question in Spanish football: can the Argentine superstar own two clubs in Spain? Messi already acquired UE Cornellà, currently competing in the Tercera Federación, earlier this year.
Under the current circumstances, the answer is yes. Spanish law allows an individual to hold stakes in more than one club, although important restrictions apply when the same person has a significant ownership stake or effective control over two entities that could compete within professional football. That is where Spain’s Sports Law and the Consejo Superior de Deportes (CSD) come into play.
For now, Messi’s situation should not create that conflict. Eldense compete in Spain’s second division, which is part of professional football, while Cornellà play at a non-professional level. However, that could change if the sporting progress of both projects eventually brings them closer together.
The 5% and 25% Thresholds Are Crucial
Under Spain’s Sports Law, an ownership stake is considered significant when it reaches or exceeds 5% of the voting rights, shares or other relevant interests in a sporting entity competing professionally. Such transactions must be reported to the CSD, which can request additional information about the ownership structure.
There is another crucial threshold. An acquisition reaching or exceeding 25% of the voting rights requires prior authorization from the CSD. Reports surrounding the deal indicate that Messi intends to acquire 100% of Eldense, making approval from the governing body an important step before the takeover can be completed.
The regulations are designed to prevent one individual from exercising significant influence over two clubs when the integrity of a competition could be compromised. The objective is to prevent conflicts of interest or cross-influence involving sporting decisions, results, promotion or relegation.
Cornellà’s Promotion Could Change Everything
There is currently one crucial separation between Messi’s two projects. Eldense play in the second division while Cornellà compete in the Tercera Federación, meaning they are not currently part of the same professional competition.
Things could become significantly more complicated if Cornellà begin climbing the Spanish football pyramid and eventually reach the professional ranks. If both clubs were to fall under the restrictions established by Spanish law, Messi would not be able to maintain significant stakes or effective control over both in the same way.
One potential solution in that scenario would be to divest from one of the clubs or reduce his ownership below the relevant thresholds without retaining effective control. Questions could potentially arise even before Cornellà reach professional football if the two teams were to meet in a competition organized by the Royal Spanish Football Federation (RFEF) where promotion, relegation or results created a potential conflict of interest.
The CSD Will Have a Decisive Role
Before worrying about a hypothetical meeting between Cornellà and Eldense, Messi still has to complete his takeover of the Alicante-based club. An agreement in principle has been reached with the current owners, but the transaction remains subject to the necessary legal, contractual and regulatory procedures.
The Consejo Superior de Deportes will play a particularly important role. According to the available information, the organization has not yet received an application requesting authorization for the transaction, meaning there is still no official ruling on the proposed takeover.
Under the clubs’ current sporting circumstances, Messi appears able to maintain both projects in Spain. Paradoxically, the real problem could emerge if Cornellà become successful enough to move closer to Eldense within the Spanish football pyramid. For now, Messi can have both; in the future, results on the pitch could force him to make a decision off it.
The Keys to Messi’s Multi-Club Ownership in Spain
- Messi can own both clubs under the current circumstances: Eldense are in professional football, while Cornellà compete at a non-professional level.
- The 5% threshold is significant: Spanish regulations consider an ownership stake at or above that level significant in a professional sporting entity.
- Buying Eldense requires authorization: Messi reportedly intends to acquire 100% of the shares, while transactions reaching or exceeding 25% require prior approval from the CSD.
- Cornellà’s success could create a future problem: if the two clubs eventually fall under the applicable restrictions, Messi could be forced to restructure or reduce his ownership or control of one of them.
