Lionel Messi completes deal to buy Spanish club Eldense

Lionel Messi has completed the purchase of all shares in Spanish club Eldense, according to Mundo Deportivo, although the agreement still requires formal approval from Spain’s National Sports Council.

The development comes one week after an initial agreement was announced for ownership of the Alicante-based club to be transferred to the Argentina legend.

Approval is required because Messi has owned another Spanish club, Cornella, since April. Spain’s Sports Law states that the same individual or legal entity cannot hold more than 5% of the shares in more than one club.

If the transfer is approved, Eldense will become Messi’s first professional Spanish club, following his acquisition of Cornella several months ago.

Eldense currently play in Spain’s second division.

Mundo Deportivo reported that the deal was settled in recent days, after the remaining legal and contractual procedures were completed. Those steps included a comprehensive review of the club’s financial and legal position.

The purchase marks a new stage in Messi’s involvement in Spanish football. After spending many years playing in the country, the former Barcelona forward is now entering Spanish football through club ownership and investment.